Senate Bill 48 became law in May 2023, opening Alaska to exciting opportunities in the voluntary carbon offset market! The new law, which does not authorize any specific project, authorizes the Alaska Department of Natural Resources to establish two separate programs allowing for the development of carbon management projects on state lands:

1. A State Carbon Offset Program in which the state leads the development of carbon offset projects on state land.

2. A Leasing program for carbon management purposes that allows third parties to lease state lands in order to develop their own carbon projects.

Alaska’s constitution requires the State to maximize our resources on behalf of Alaskans. DNR’s mission is to develop, conserve and maximize the use of Alaska's natural resources consistent with the public interest. Carbon management corresponds with DNR's mission and compliments Alaska’s current land and natural resources uses.

The Department - through the Office of Project Management & Permitting and the Division of Mining, Land & Water - is currently developing regulations to make specific the provisions of Senate Bill 48 and implement the State Carbon Offset Program and the carbon leasing program. The timeline below includes more information about this process.

Check back here regularly for updates as regulations continue to be developed, including opportunities for public participation and links to documents.

Class VI (6) Well Primacy: The new law also authorizes the Alaska Oil & Gas Conservation Commission to pursue primary enforcement responsibility for Class VI injection wells from the federal government in anticipation of future legislation establishing a regulation framework for geologic carbon sequestration. For questions, please contact AOGCC at aogcc.customer.svc@alaska.gov or (907) 279-1433.