CA AB2348

Establishes the Natural Resources Climate Improvement Program administered by the Natural Resources Agency in coordination with the State Air Resources Board to fund natural resources projects that reduce greenhouse gas emissions or increase carbon sequestration.

Authorizes the use of Greenhouse Gas Reduction Fund moneys (from cap-and-trade auction revenues) for the program upon legislative appropriation.

Requires the Natural Resources Agency to develop guidelines ensuring projects utilize consistent accounting methods, promote innovative climate solutions, prioritize regional implementation, and align with county or regional greenhouse gas emission reduction plans.

Directs state conservancies and the Wildlife Conservation Board to identify and implement projects including forest management, agricultural land protection, wetland restoration, organic waste diversion, and carbon sequestration research on both public and private lands.

Requires the Natural Resources Agency to coordinate with state agencies on climate adaptation, notify conservancies of major infrastructure projects, and provide technical assistance grants to disadvantaged community applicants.