,,ii #aagth ,,congress #b;d ,session ,s4 #ejai ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,september #bi1 #bjbb,mr4 ,menendez 7for himself and ,mr4 ,braun7 introduced the following bill2 which was read twice and referred to the ,committee on ,foreign ,relations ,a ,,bill ,to establish an international terrestrial carbon sequestration program and provide international technical assistance for carbon market development1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,america ,mitigating and ,achieving ,zero-emissions ,originating from ,nature for the #bast ,century ,act or the ,,amazon#ba ,act4 #b4 ,international ,terrestrial ,carbon ,sequestration ,program 7a7 ,in general ,the ,secretary shall establish a program1 to be known as the ,international ,terrestrial ,carbon ,sequestration ,program1 to provide results-based payments for eligible projects in developing countries that reduce emissions and enhance carbon sequestration from forests and other terrestrial ecosystems4 7b7 ,goals ,in carrying out the program established pursuant to subsection 7a71 the ,secretary shall work with the governments of developing countries and appropriate local partners in developing countries to identify1 develop1 and implement eligible projects that-- 7#a7 will help developing countries meet their international greenhouse gas mitigation commitments2 and 7#b7 have the potential to contribute to cooperative efforts-- 7,a7 to conserve and restore forests and other terrestrial ecosystems2 7,b7 to provide a counterbalance to investments from countries of concern in cooperating developing countries2 7,c7 to reduce illegal deforestation2 and 7,d7 to mitigate and sequester carbon dioxide4 7c7 ,results-,based payments 7#a7 ,in general ,an eligible project shall qualify for results-based payments under the program established pursuant to subsection 7a7 if-- 7,a7 in the determination of the ,secretary1 the host developing country or appropriate local partner will be able to fulfill its obligations under any agreement with respect to the funding of the eligible project through the program established pursuant to subsection 7a71 including 7as applicable7 with respect to-- 7i7 host country standards of governance and respect for rule of law2 7ii7 environmental and social safeguards2 and 7iii7 potential for corruption or misuse of payments made by the ,secretary2 7,b7 the eligible project is appropriately designed to use results-based payments2 7,c7 the host developing country or appropriate local partner1 as applicable1 agrees-- 7i7 to abide by transparency requirements with respect to the use of funds received under the program established pursuant to subsection 7a72 7ii7 to fulfill measuring1 reporting1 and verification requirements1 including independent third-party verification1 necessary to provide results-based payments2 7iii7 to report publicly any data with respect to emissions reductions achieved under such program1 linking such data to reporting requirements of or commitments made by a host country under relevant international agreements2 7iv7 to count the verified emission reductions associated with the eligible project solely towards any of the relevant international commitments of the host developing country2 7v7 to ensure that women1 indigenous communities1 and other local stakeholders1 as applicable1 are empowered and enabled to meaningfully participate in the development1 implementation1 and potential benefits of the eligible project2 and 7vi7 to disclose any debt the applicant may owe to any entity known to be owned or controlled by a country of concern1 including loan amounts1 duration1 rates1 and contractual provisions2 and 7,d7 with respect to subparagraph 7,c77vi71 the host developing country or appropriate local partner agrees that payments may not be used to amortize any loan principal owed to any entity known to be owned or controlled by the country of concern4 7#b7 ,additional forms of qualification for results based payments ,notwithstanding paragraph 7#a71 an eligible project may qualify for results-based payments under this subsection if-- 7,a7 the eligible project includes a combination or aggregation of existing terrestrial carbon mitigation projects such that the total of such projects contributes to the full national or1 on an interim basis1 subnational territory in the host developing country2 or 7,b7 the eligible project is nested into the accounting and reporting of an existing national or sub-national terrestrial carbon mitigation program in the host developing country1 including with regard to safeguard requirements and any transfer of credits1 without regard to whether the eligible project is below the sub-national level or scale4 7d7 ,multi-,year agreements 7#a7 ,in general ,upon determining that an eligible project qualifies for results-based payments1 the ,secretary is authorized to enter into multi-year agreements to provide results-based payments to a host developing country or appropriate local partners in the host developing country1 including in the form of grants from the ,international ,forestry ,carbon ,mitigation ,fund established in subsection 7g71 to carry out such eligible project4 7#b7 ,prioritization ,the ,secretary is encouraged to consider any project for which the execution of such project would directly or indirectly combat illegal deforestation or counter malicious influence from countries of concern in a particular developing country4 7#c7 ,third-party leverage of funds ,the ,secretary is encouraged to prioritize projects that include terms that leverage funding from non-profits1 businesses1 other developed countries1 and multilateral financing and development agencies4 7#d7 ,partnerships with multilateral programs ,the ,secretary may partner with multilateral or multi-donor programs to fund grants for any eligible project that qualifies for results based payments under subsection 7c74 7#e7 ,reciprocal commitment ,the ,secretary shall take steps to ensure that the host developing country or appropriate local partners in the host developing country1 as applicable1 reciprocates the commitments to achieving the goals described in subsection 7b74 7#f7 ,periodic reviews ,the ,secretary shall periodically review and evaluate the progress of eligible projects-- 7,a7 to ensure that eligible projects are proceeding successfully and appropriately maintained2 7,b7 to account for and adapt to externalities that could prevent an eligible project from meeting its objectives2 and 7,c7 to assist proponents of an eligible projects in planning and executing the eligible project in accordance with this ,act4 7#g7 ,termination ,an agreement under this subsection may be unilaterally terminated by the ,secretary if the ,secretary determines that-- 7,a7 the host developing country or a appropriate local partner is failing or has failed to uphold the terms and conditions established for the eligible project2 or 7,b7 the eligible project is not in the national interest of the ,united ,states4 7#h7 ,double counting of payments ,the ,secretary shall take such steps as may be necessary-- 7,a7 to prevent the double counting of1 or double payment for1 emissions reduction or carbon sequestration results from eligible projects that also may receive funds from other sources1 including in accordance with international guidelines and rules on carbon markets2 and 7,b7 to ensure that the payments and eligible projects are interoperable and do not supplant or compete with international transferred mitigation outcomes4 7e7 ,transparency ,the ,secretary shall make publicly available a list of funds made available under the program established by subsection 7a7 and shall update on an annual basis the progress or any lack of progress in the implementation of the corresponding eligible projects and the achievement of the goals described in subsection 7b74 7f7 ,agency coordination ,in carrying out the program under this section1 the ,secretary shall consult as appropriate with the heads of other relevant ,federal departments and agencies1 including-- 7#a7 with respect to terrestrial carbon sequestration1 the ,secretary of ,agriculture1 the ,secretary of the ,interior1 the ,administrator of the ,national ,oceanic and ,atmospheric ,administration1 the ,chief ,forester of the ,forest ,service1 the ,administrator of the ,united ,states ,agency for ,international ,development1 and the ,administrator of the ,environmental ,protection ,agency2 7#b7 with respect to project monitoring1 reporting1 and verification1 the ,administrator of the ,national ,oceanic and ,atmospheric ,administration1 the ,administrator of the ,national ,aeronautics and ,space ,administration1 the ,administrator of the ,united ,states ,agency for ,international ,development1 the ,director of the ,united ,states ,geological ,survey1 the ,administrator of the ,environmental ,protection ,agency1 the ,secretary of ,agriculture1 and the ,chief ,forester of the ,forest ,service2 and 7#c7 with respect to avoiding duplicative foreign aid efforts1 particularly for conservation funds1 the ,administrator of the ,united ,states ,agency for ,international ,development4 7g7 ,trust fund ,there is established in the ,treasury of the ,united ,states a fund to be known as the ,international ,terrestrial ,carbon ,sequestration ,fund1 which shall consist of-- 7#a7 amounts appropriated pursuant to the authorization in subsection 7h77#a7 to carry out this section2 and 7#b7 such gifts1 bequests1 or devises of property for the benefit of1 or in connection with carrying out this section as the ,secretary may accept in the form of donations by individuals or entities1 including private entities1 non-profit entities1 other developed countries1 and multinational entities4 7h7 ,authorization of appropriations 7#a7 ,authorization ,there is authorized to be appropriated to carry out this section-- 7,a7 #a1abe1jjj1jjj for fiscal year #bjbb2 7,b7 #a1abe1jjj1jjj for fiscal year #bjbc2 7,c7 #a1abe1jjj1jjj for fiscal year #bjbd2 and 7,d7 #a1abe1jjj1jjj for fiscal year #bjbe4 7#b7 ,availability ,amounts appropriated to carry out this section are authorized to remain available until expended and shall be used solely for the purposes of this section4 7#c7 ,salaries and expenses ,of the amounts made available for any fiscal year pursuant to the authorization under paragraph 7#a71 not more than #aj1jjj1jjj is authorized to be made available for the salaries and expenses of employees to carry out this section4 7i7 ,emissions baseline for eligible projects 7#a7 ,proposals for emissions baseline 7,a7 ,in general ,to receive results-based payments under this section for an eligible project qualified to receive results-based payments pursuant to subsection 7c71 a developing country or appropriate local partner shall submit to the ,secretary a proposal for an emissions baseline that-- 7i7 is credible1 transparent1 accurate1 and conservatively evaluates the reduction of carbon emission of an eligible project2 and 7ii7 meets the criteria established by the ,secretary under paragraph 7#b74 7,b7 ,determination by ,secretary 7i7 ,in general ,after receipt of a proposal under subparagraph 7,a71 the ,secretary shall determine whether the emission baseline meets the criteria under paragraph 7#b74 7ii7 ,provision of results-based payments approved emissions baseline ,if the ,secretary determines under clause 7i7 that the emissions baseline meets the criteria under paragraph 7#b71 the ,secretary may provide results-based payments for such eligible project to the developing country or appropriate local partner in accordance with this section4 7iii7 ,failure to meet criteria 7,i7 ,in general ,if the ,secretary determines under clause 7i7 that the emissions baseline does not meet the criteria under paragraph 7#b71 the ,secretary may negotiate with the developing country or appropriate local partner to reach an agreement on an emissions baseline for the eligible project4 7,,ii7 ,provision of results-based payments for agreed emissions baseline ,once an agreement has been reached under subclause 7,i71 the ,secretary may provide results-based payments for the eligible project to the developing country or appropriate local partner in accordance with this section4 7#b7 ,baseline criteria ,the ,secretary shall establish criteria for each emissions baseline proposed1 which shall include requirements that the emissions baseline-- 7,a7 is used to account for net emissions reductions achieved from the eligible project2 7,b7 is national1 or subnational on an interim basis1 in scope2 7,c7 is consistent with mitigation commitments1 targets1 or actions that are appropriate for the developing country with respect to deforestation or loss of terrestrial ecosystems1 taking into consideration-- 7i7 the average annual historical emissions and removals from forests1 and other terrestrial ecosystems1 as applicable1 during a period of at least #e years2 and 7ii7 the use of the relevant #bjjf ,,ipcc ,guidelines for ,national ,greenhouse ,gas ,inventories published by the ,intergovernmental ,panel on ,climate ,change to determine applicable drivers of deforestation and land use conversion2 7,d7 establishes a trajectory that would result in zero net deforestation by not later than #aj years after the date on which the baseline is established2 7,e7 is updated not less frequently than once every #e years to account for changing circumstances in the developing country2 7,f7 includes emissions and removals from-- 7i7 remaining forest land2 7ii7 conversions of other lands to or from forest land2 7iii7 conversions between land-use categories other than forest land that1 cumulatively with the conversions described in clause 7i7 amount to #ij percent of the absolute level of the total greenhouse gas emissions and removals associated with all land-use conversions2 and 7iv7 any other land-use category estimated to contribute at least #aj percent of agriculture1 forestry1 and other land use 7,,afolu7 emissions in the project area2 and 7,g7 takes into consideration existing or planned terrestrial carbon mitigation projects as identified in subsection 7c77#b7 in a developing country and the effect those projects might have in establishing an emissions baseline for eligible projects funded under this ,act4 #c4 ,technical assistance for scaling nature-based solutions in developing countries 7a7 ,in general ,the ,administrator of the ,united ,states ,agency for ,international ,development1 in consultation with the ,secretary1 shall conduct a program to provide resources and technical assistance to developing countries and appropriate local partners to conserve1 manage1 and restore forests and other terrestrial ecosystems1 to support nature-based carbon sequestration as a means of addressing a changing climate1 including by providing such resources and assistance with respect to projects for the goals described in section #b7;b74 ,projects under such program shall be directed in developing countries meeting each of the following criteria3 7#a7 ,the country contains globally significant forests or other terrestrial ecosystems-- 7,a7 that are threatened with destruction1 degradation1 or fragmentation2 or 7,b7 where the degradation of forests or terrestrial ecosystems impairs development and significantly drives greenhouse gas emissions4 7#b7 ,legitimate land owners or customary use rights holders in the developing country are permitted-- 7,a7 to sell carbon credits to voluntary and carbon compliance markets2 7,b7 to receive benefits from the sale of such carbon credits by the government2 and 7,c7 to participate in results-based payments transactions4 7#c7 ,the country has developed1 or is in the process of developing1 comprehensive policies to monitor1 report1 and verify the environmental1 social1 and financial quality and integrity of any such projects1 including1 if applicable1 policies to ensure that the host country avoids double-counting the resulting reductions greenhouse gas emissions4 7#d7 ,the country presently contains large reserves of forests and terrestrial ecosystems that cannot be recuperated once lost4 7b7 ,technical support prioritization ,in conducting the program described in subsection 7a71 the ,administrator of the ,united ,states ,agency for ,international ,development shall prioritize technical support for and investment in the following activities3 7#a7 ,reducing greenhouse gas emissions from deforestation1 fragmentation1 and forest degradation4 7#b7 ,enhancing greenhouse gas sequestration through carbon sinks by restoring natural forests and other terrestrial and ecosystems as well as building resilience4 7#c7 ,monitoring1 reporting1 and verification of the environmental1 social1 and financial quality and integrity of the project as an important component of the work4 7#d7 ,assisting governments1 willing1 legitimate land owners1 or willing customary use rights holders in developing projects to engage in carbon markets through-- 7,a7 carbon credits sold to buyers on existing carbon compliance markets or voluntary carbon markets2 or 7,b7 projects providing results-based payments4 7#e7 ,developing domestic infrastructure and capacity building for creating and tracking carbon credits1 such as registries or projects eligible for results-based payments1 and preparing countries to implement nature-based solution initiatives4 7#f7 ,ensuring that women1 ,indigenous ,communities1 and other local stakeholders are empowered and enabled to meaningfully participate and share in the potential benefits of activities funded under this section4 7#g7 ,ensuring the additionality of projects1 programs1 and other activities made possible by funding provided pursuant to this section4 7c7 ,authorization ,there are authorized to be appropriated such sums as may be necessary to carry out this section4 #d4 ,definitions ,in this ,act3 7#a7 ,additionality ,the term additionality means reductions to greenhouse gas emissions in developing countries that would not have occurred but for activities to reduce greenhouse gas emissions in developing countries funded and made possible by funding provided pursuant to section #c4 7#b7 ,appropriate local partner ,the term appropriate local partner means any relevant subnational government1 local authority1 indigenous community1 non-governmental entity1 or private landowner in a developing country committed to and capable of achieving the goals described in section #b7;b74 7#c7 ,country of concern ,the term country of concern means the government or ruling party of any of the following countries3 7,a7 ,the ,russian ,federation4 7,b7 ,the ,people's ,republic of ,china4 7,c7 ,the ,democratic ,people's ,republic of ,korea4 7,d7 ,the ,islamic ,republic of ,iran4 7,e7 ,the ,bolivarian ,republic of ,venezuela4 7,f7 ,the ,republic of ,cuba4 7#d7 ,deforestation ,the term deforestation means a change in land use1 including forest fragmentation and forest degradation1 from a forest to any other land use4 7#e7 ,developing country ,the term developing country means-- 7,a7 a country eligible to receive official development assistance according to the income guidelines of the ,development ,assistance ,committee of the ,organisation for ,economic ,co-operation and ,development2 or 7,b7 any other country identified by the ,secretary with globally significant forests or terrestrial ecosystems the loss of which is1 or has the potential to1 significantly contribute to the changing climate4 7#f7 ,eligible project ,the term eligible project means a verifiable and measurable national or subnational activity developed or executed by the central government1 subnational government1 local authority1 indigenous community1 non-governmental entity1 private landowner1 or any group of such persons in a developing country that-- 7,a7 reduces a quantity of greenhouse gas emissions from deforestation and loss of terrestrial ecosystems that is calculated by measuring actual emissions against an eligible project baseline1 in accordance with subsection 7i72 or 7,b7 is directed at preserving or enhancing terrestrial ecosystems that might1 absent such activity1 be lost through conversion to other uses4 7#g7 ,emissions reductions ,the term emissions reductions means greenhouse gas emissions reductions and increased sequestration achieved from-- 7,a7 reduced1 or avoided deforestation2 7,b7 reforestation2 7,c7 preservation of terrestrial ecosystems2 or 7,d7 enhancements to terrestrial ecosystems that will result in the increased sequestration of greenhouse gas emissions4 7#h7 ,forest degradation ,the term forest degradation means any reduction in the carbon stock of a forest due to the effects of human land-use activities1 including land-use changes driven by human activity4 7#i7 ,international transferred mitigation outcomes ,the term international transferred mitigation outcomes means the units from the mechanisms that bestow carbon mitigation credits for use in international carbon markets4 7#aj7 ,nature-based solution ,the term nature-based solution means an activity within a developing country to conserve1 restore1 or better manage forests and terrestrial ecosystems to sequester greenhouse gas emissions from the atmosphere4 7#aa7 ,results-based payment ,the term results-based payment means a mechanism for the provision of ,united ,states assistance in which-- 7,a7 a developing country1 or appropriate local partner in a developing country1 assumes responsibility for achieving measurable results in the reduction of emissions through an eligible project2 7,b7 such measurable results are defined in advance of the obligation of assistance by the ,united ,states for the eligible project2 and 7,c7 such assistance is expended in the form of payments to such developing country or appropriate local partner only upon independent verification of such pre-defined results4 7#ab7 ,terrestrial ecosystem 7,a7 ,in general ,the term terrestrial ecosystem means naturally occurring grasslands1 forests1 tropical rainforests1 mangroves1 peatlands1 or wetlands comprised of native species generated and maintained primarily through natural ecological and evolutionary processes4 7,b7 ,exclusion ,the term terrestrial ecosystem does not include tree plantations1 such as crops of trees planted by humans primarily for the purposes of harvesting4 7#ac7 ,secretary ,the term ,secretary means the ,secretary of ,state4