CA AB2649

Establishes a state goal to sequester at least 60,000,000 metric tons of carbon dioxide equivalent annually by December 31, 2030, and 75,000,000 metric tons annually by December 31, 2035, through natural carbon sequestration on natural and working lands in California.

Requires the Natural Resources Agency, in coordination with the California Environmental Protection Agency, State Air Resources Board, and Department of Food and Agriculture, to review and update the Natural and Working Lands Climate Smart Strategy and Pathways to 30x30 by January 1, 2024, and every five years thereafter to achieve the sequestration goal.

Mandates annual reporting to the Legislature beginning December 31, 2025, detailing progress toward the goal, including quantified emissions reductions, benefits to disadvantaged and low-income communities, and identification of barriers to achievement.

Requires the Natural Resources Agency and State Air Resources Board to present report findings to relevant legislative policy committees by March 31 annually, beginning March 31, 2026.

Specifies that the carbon sequestration goal is separate from and not counted toward existing emission reduction targets, and that market-based compliance mechanisms cannot be counted toward meeting this goal.