(2) Rules adopted by the board under this section shall set standards to ensure that in order to be marketed, registered, transferred or sold, a forestry carbon offset must be created as a result of forest management activities that:
(a) Have the effect of increasing carbon storage on forestlands as measured by a forestry carbon offset accounting system;
(b) Would not otherwise occur but for the carbon storage objective; and
(c) Provide environmental, social and economic benefits for Oregon and its citizens, including but not limited to, protection or enhancement of long term timber supplies, native fish and wildlife habitat and water quality.
(3) Rules adopted by the board under this section shall establish principles to ensure that the forestry carbon offset accounting system shall:
(a) Account for relevant sources of carbon dioxide emission debits and credits for carbon storage or sequestration;
(b) Account for the duration and permanence of the carbon dioxide storage or emission reductions;
(c) Include provisions for establishing the appropriate baseline for projects, practices, rotation ages, harvest schedules and ownership from which measured carbon dioxide emission debits, and credits for carbon storage or sequestration are made;
(d) Account for other relevant and measurable greenhouse gas consequences, specifically credits and debits expressed as a carbon dioxide emissions equivalent, when establishing baselines or otherwise as appropriate;
(e) Account for the specific forest management practices used on-site and include provisions for monitoring carbon dioxide emission debits and credits for carbon storage or sequestration, from the implementation of specific practices;
(f) Account for continuing carbon dioxide emission debits, and credits for carbon storage or sequestration, based on the end product use of harvested biomass;
(g) Account for environmental, social and economic benefits of forestry carbon offsets and ensure that practices with unsustainable, long term consequences are not used to create forestry carbon offsets;
(h) Allow for public access to information in monitoring reports; and
(i) Encourage third-party verification of forestry carbon offsets.
(4) Rules adopted by the board under this section may address qualifications for persons and agencies that provide third-party verification and registration of forestry carbon offsets.
(5) Rules adopted by the board under this section shall be developed with the assistance of an advisory committee appointed by the board. The advisory committee shall consist of at least nine persons and shall contain:
(a) Persons from businesses, governmental agencies and nongovernmental organizations with knowledge and experience in the accounting of greenhouse gas emissions, sequestration and storage;
(b) At least one person from a nongovernmental forestry conservation organization;
(c) At least one nonindustrial private forest landowner or a representative of an organization that represents nonindustrial private forest landowners;
(d) One representative of the State Department of Energy;
(e) One representative of the State Department of Fish and Wildlife, or a designee of the State Department of Fish and Wildlife;
(f) One representative of the Department of Environmental Quality, or a designee of the Department of Environmental Quality;
(g) At least one representative from a qualified organization, as defined in ORS 469.503; and
(h) At least one representative from the State Forestry Department who shall serve as the secretary to the advisory committee. [2001 c.752 §4]