NC S1220

Directs the Department of Agriculture and Consumer Services, Department of Commerce, and Department of Environment and Natural Resources to jointly evaluate carbon sequestration potential of North Carolina's natural and working landscapes, including forests, wetlands, and coastal waters.

Requires agencies to study carbon sequestration practices such as alternative farming, soil carbon management, forest management, avoided conversion of agricultural lands, coastal habitat restoration, and biomass energy production.

Mandates evaluation of developing carbon sequestration technologies (microalgae and biochar), existing carbon offset programs, verification standards, and costs and benefits for landowners and farmers to participate in cap and trade programs.

Authorizes agencies to employ independent consultants and convene an advisory committee of interested parties to assist with the study design and implementation.

Requires submission of an interim report to the Environmental Review Commission by September 1, 2011, and a final report with findings, recommendations, and any legislative proposals to the General Assembly by April 1, 2012.