Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Jasneet Sharma, Director, Sustainability Department
Subject: Agreement with San Mateo Resource Conservation District for Carbon Farm Fund
RECOMMENDATION:
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Adopt a resolution authorizing an agreement with the San Mateo Resource Conservation District (RCD) to design and launch a carbon farm fund that will advance carbon sequestration efforts, for the term of June 10, 2025 through June 9, 2030, in an amount not to exceed $395,000.
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BACKGROUND:
On October 18, 2022, the Board approved Resolution No. 079264, adopting the San Mateo County General Plan Climate Element and the Community Climate Action Plan (CCAP). As part of the CCAP's overall emissions reduction target of carbon neutrality by 2040, it sets forth a target to sequester 39,000 metric tons of carbon dioxide equivalent (MTCO2e) by 2030 and 166,000 MTCO2e by 2045. To accomplish this goal, the CCAP recommends implementing a funding program to help farmers and ranchers implement and maintain climate beneficial agricultural practices, or carbon farming. The CCAP also has a land management goal to "support ranchers and farmers to plan, implement, and scale climate beneficial practices on the County's working lands to mitigate climate change and build agricultural resiliency."
DISCUSSION:
The proposed Carbon Farm Fund (Fund) would seek to establish a self-sustaining funding program to support producers in carbon sequestration. The Fund would advance progress on both the CCAP's carbon sequestration and land management goals.
The proposed agreement consists of three key activities. First, the contractor will conduct extensive research, stakeholder surveying, and fund model analysis, development and testing, to create a Funding Pathways Memorandum with recommendations for a sustainable long-term Fund program. Second, the contractor will develop a complete program design for administe...
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