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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5195 Introduced in Senate (IS)]

<DOC>

118th CONGRESS
  2d Session
                                S. 5195

To establish a verifiable international terrestrial ecosystem services 
conservation program and provide international technical assistance for 
          the development of markets, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                           September 25, 2024

  Mr. Cardin introduced the following bill; which was read twice and 
             referred to the Committee on Foreign Relations

_______________________________________________________________________

                                 A BILL

 
To establish a verifiable international terrestrial ecosystem services 
conservation program and provide international technical assistance for 
          the development of markets, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Combatting Global Deforestation Act 
of 2024''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) Forests are a vital to the ecological health of the 
        Earth, biodiversity, the protection of water and soil quality, 
        the prevention of erosion and dangerous landslides, the 
        production of oxygen, the regulation of carbon dioxide in the 
        atmosphere, and the regulation of the global system.
            (2) Forests are a critical natural resource that, when 
        appropriately managed and conserved, provide significant 
        economic, cultural, health, and community benefits to humanity.
            (3) Since the start of the 20th century, an estimated 
        3,900,000 square miles of forest have been lost due to human 
        activities, including land conversions for agricultural 
        production, cattle ranching, logging, land development, and 
        extractive industrial activities such as mining and fossil fuel 
        extraction.
            (4) Since 2000, 23 percent of global tree coverage loss has 
        been the result of deforestation including--
                    (A) 48 percent in Brazil;
                    (B) 50 percent in Argentina;
                    (C) 89 percent in the Philippines; and
                    (D) 96 percent in Indonesia.
            (5) Deforestation disproportionately affects--
                    (A) critical habitats and ecosystems for critically 
                endangered species such as Sumatran Elephants and 
                Orangutans in Indonesia;
                    (B) the health and quality of water resources 
                through the alteration of critical ecosystem services 
                to hydrological systems, including slowing stormwater 
                runoff into surface waters and providing natural 
                filtration for fallen precipitation that infiltrates 
                groundwater resources; and
                    (C) approximately 370,000,000 people in indigenous 
                communities that rely on naturally forested lands that 
                are historically and culturally significant and provide 
                community and economic opportunities, sustenance, 
                medicinal resources and spiritual connection;

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Additionality.--The term ``additionality'' means 
        emissions reductions or other terrestrial ecosystem services in 
        developing countries that would not have occurred but for 
        activities to reduce greenhouse gas emissions in partner 
        developing countries funded and made possible by funding 
        provided pursuant to section 5.
            (2) Appropriate local partner.--The term ``appropriate 
        local partner'' means any relevant subnational government, 
        local authority, indigenous community, non-governmental entity, 
        or private landowner in a partner developing country committed 
        to and capable of achieving the goals described in section 
        4(b).
            (3) Country of concern.--The term ``country of concern'' 
        means the government or ruling party of any of the following 
        countries:
                    (A) The Russian Federation.
                    (B) The People's Republic of China.
                    (C) The Democratic People's Republic of Korea.
                    (D) The Islamic Republic of Iran.
                    (E) The Bolivarian Republic of Venezuela.
                    (F) The Republic of Cuba.
            (4) Deforestation.--The term ``deforestation'' means a 
        change in land use, including forest fragmentation and forest 
        degradation, from a forest to any other land use.
            (5) Eligible project.--The term ``eligible project'' means 
        a verifiable and measurable national or subnational activity 
        developed or executed by the central government, subnational 
        government, local authority, indigenous community, non-
        governmental entity, private landowner, or any group of such 
        persons in a partner developing country that supports enhancing 
        terrestrial ecosystem services.
            (6) Emissions reductions.--The term ``emissions 
        reductions'' means greenhouse gas emissions reductions and 
        increased sequestration achieved from--
                    (A) reduced, or avoided deforestation;
                    (B) reforestation;
                    (C) preservation of terrestrial ecosystems; or
                    (D) enhancements to terrestrial ecosystems that 
                will result in the increased sequestration of 
                greenhouse gas emissions.
            (7) Forest degradation.--The term ``forest degradation'' 
        means any reduction in forest stocks due to the effects of 
        human land-use activities, including land-use changes driven by 
        human activity.
            (8) Nature-based solution.--The term ``nature-based 
        solution'' means an activity within a partner developing 
        country to conserve, restore, or better manage forests and 
        terrestrial ecosystems to improve terrestrial ecosystem 
        services.
            (9) Outcome-oriented assistance.--The term ``outcome-
        oriented assistance'' means a mechanism for the provision of 
        United States assistance in which--
                    (A) a partner developing country, or appropriate 
                local partner in a developing country, assumes 
                responsibility and must demonstrate the achievement of 
                measurable results, or progress towards the achievement 
                of conservation goals, that improve terrestrial 
                ecosystem services associated with activities of an 
                eligible project;
                    (B) such measurable results are defined and agreed 
                upon in a multi-year agreement, and described in 
                section 4(d) of this Act, in advance of the provision 
                of assistance by the United States for the eligible 
                project; and
                    (C) such assistance is expended to such developing 
                country or appropriate local partner only upon 
                independent verification of such pre-defined results.
            (10) Partner developing country.--The term ``partner 
        developing country'' means--
                    (A) a country eligible to receive official 
                development assistance according to the income 
                guidelines of the Development Assistance Committee of 
                the Organisation for Economic Co-operation and 
                Development; or
                    (B) any other country identified by the Secretary 
                with globally significant forests or terrestrial 
                ecosystems the loss of which is, or has the potential 
                to, significantly contribute to the loss of terrestrial 
                ecosystem services.
            (11) Program.--The term ``Program'' means the program 
        established pursuant to section 4(a).
            (12) Terrestrial ecosystems.--
                    (A) In general.--The term ``terrestrial 
                ecosystems'' means naturally occurring grasslands, 
                forests, tropical rainforests, mangroves, peatlands, or 
                wetlands comprised of native species generated and 
                maintained primarily through natural ecological and 
                evolutionary processes.
                    (B) Exclusion.--The term ``terrestrial ecosystems'' 
                does not include tree plantations, such as crops of 
                trees planted by humans primarily for the purposes of 
                harvesting.
            (13) Terrestrial ecosystems services.--The term 
        ``terrestrial ecosystems services'' means the direct and 
        indirect benefits that terrestrial ecosystems provide to 
        humans, including--
                    (A) material or energy outputs from an ecosystem, 
                including food, forage, fiber, fresh water, and other 
                resources;
                    (B) benefits obtained through moderation or control 
                of ecosystem processes, including regulation of local 
                climate, air quality, water quality, soil quality, 
                emission reductions, natural carbon sequestration, 
                flood control, erosion control, disease control, and 
                pollination;
                    (C) maintenance of fundamental ecosystem processes, 
                such as habitat for plants and wildlife, or the 
                maintenance of genetic and biological diversity; and
                    (D) non-material benefits provided to human 
                societies and culture, including opportunities for 
                recreation, tourism, aesthetic or artistic 
                appreciation, and spirituality.
            (14) Secretary.--The term ``Secretary'' means the Secretary 
        of State.

SEC. 4. VERIFIED INTERNATIONAL FOREST ECOSYSTEM SERVICES CONSERVATION 
              PROGRAM.

    (a) In General.--The Secretary shall establish a program, to be 
known as the ``Verified International Forest Ecosystem Services 
Conservation Program''.
    (b) Purpose.--The purpose of the Program shall be--
            (1) to enhance efforts to halt terrestrial ecosystem 
        degradation and loss, and increase terrestrial restoration at 
        scale;
            (2) to provide contingent outcome-oriented assistance for 
        the achievement of eligible projects in partner developing 
        countries through incentives and assistance to halt terrestrial 
        ecosystem loss; and
            (3) to enhance restoration of terrestrial ecosystems.
    (c) Implementation.--The Secretary shall develop the criteria, 
guidelines, and processes necessary to implement the Program.
    (d) Goals.--In carrying out the program established pursuant to 
subsection (a), the Secretary shall work with the governments of 
partner developing countries and appropriate local partners to 
identify, develop, and implement eligible projects that will or have 
the potential--
            (1) to help partner developing countries meet their forest 
        conservation and restoration goals, including efforts to 
        achieve emissions reductions and enhance net natural 
        sequestration capacity associated with deforestation;
            (2) to enhance terrestrial ecosystem services;
            (3) to improve natural habitat for species;
            (4) to preserve culturally and ecologically unique forested 
        lands, including forests containing rare, threatened, or 
        endangered plant species;
            (5) to contribute to cooperative efforts to conserve and 
        restore natural forests and other terrestrial ecosystems that 
        provide local, regional, and global environmental and health 
        benefits;
            (6) to provide a counterbalance to investments from any 
        country of concern in activities that utilize destructive 
        industrial practices that degrade or destroy natural forests 
        and other terrestrial ecosystems in partner developing 
        countries; and
            (7) to reduce illegal deforestation.
    (e) Outcome-Oriented Assistance.--
            (1) In general.--An eligible project shall qualify for 
        outcome-oriented assistance under the Program if--
                    (A) in the determination of the Secretary, the 
                partner developing country or appropriate local partner 
                will be able to fulfill its obligations under a multi-
                year agreement described in subsection (d) in support 
                of an eligible project through the Program, including 
                (as applicable) with respect to--
                            (i) standards of governance and respect for 
                        rule of law in the partner developing country;
                            (ii) environmental and social safeguards; 
                        and
                            (iii) safeguarding against the potential 
                        for corruption or misuse of assistance provided 
                        under this section;
                    (B) the eligible project is appropriately designed 
                to use outcome-oriented assistance;
                    (C) the partner developing country or appropriate 
                local partner, as applicable, agrees--
                            (i) to abide by transparency requirements 
                        with respect to the use of funds received under 
                        the program established pursuant to subsection 
                        (a);
                            (ii) to fulfill measuring, reporting, and 
                        verification requirements, including 
                        independent third-party verification, necessary 
                        to provide outcome-oriented assistance;
                            (iii) to report publicly any data with 
                        respect to deforestation associated emissions 
                        reductions achieved under such program, in 
                        accordance with reporting requirements of or 
                        commitments of a partner developing country 
                        under relevant international agreements;
                            (iv) to ensure that women, indigenous 
                        communities, and other local stakeholders, as 
                        applicable, are empowered and enabled to 
                        meaningfully participate in the development, 
                        implementation, and potential benefits of the 
                        eligible project; and
                            (v) to disclose any debt the applicant may 
                        owe to any entity known to be owned or 
                        controlled by a country of concern, including 
                        loan amounts, duration, rates, and contractual 
                        provisions;
                    (D) the eligible project enhances terrestrial 
                ecosystems in a manner that can be verified and 
                realizes outcomes that may contribute to meeting the 
                relevant international commitments of the partner 
                developing country; and
                    (E) with respect to subparagraph (C)(v), the 
                partner developing country or appropriate local partner 
                agrees that the assistance provided under this section 
                may not be used to amortize any loan principal owed to 
                any entity known to be owned or controlled by the 
                country of concern.
            (2) Impact of indigenous communities.--The presence of 
        indigenous communities subsisting, and engaging in sustainable 
        economic activities, on the lands of an eligible project shall 
        not--
                    (A) be infringed by activities conducted in 
                association with an eligible project; or
                    (B) impact the qualification of an eligible 
                project.
            (3) Additional economic activity.--Any additional economic 
        activity pursued on the lands of an eligible project may be 
        permissible if such activities are carried out in accordance 
        with the goals described in subsection (d).
            (4) Additional forms of qualification for outcome-oriented 
        assistance.--Notwithstanding paragraph (1), an eligible project 
        may qualify for outcome-oriented assistance under this 
        subsection if--
                    (A) the eligible project includes a combination or 
                aggregation of existing activities that align with the 
                goals described in subsection (d) such that the total 
                of such projects contributes to the full national or, 
                on an interim basis, subnational territory in the 
                partner developing country; or
                    (B) the eligible project is nested into the 
                accounting and reporting of an existing national or 
                sub-national program or activity in the partner 
                developing country, including with regard to safeguard 
                requirements and any transfer of verifiable 
                environmental credits that qualify for use or transfer 
                under internationally recognized systems that may meet 
                the international environmental commitments of the 
                partner developing country, without regard to whether 
                the eligible project is below the subnational level or 
                scale.
            (5) Private or partner country contribution support 
        requirement.--
                    (A) In general.--Outcome-oriented assistance shall 
                only be granted to eligible projects that secure 
                additional funding from sources other than the United 
                States Government in an amount that is not less than 
                the 10 percent of the amount determined to be provided 
                out of the fund established under subsection (h) for 
                the eligible project based on the terms of the multi-
                year agreement of such eligible project
                    (B) Private partners.--The Secretary is 
                encouraged--
                            (i) to include private sector partners as 
                        supporters of eligible projects; and
                            (ii) to facilitate the security of 
                        financial commitments from private 
                        contributions, which shall be counted toward 
                        the requirement under subparagraph (A) for an 
                        eligible project.
            (6) Partnerships with multilateral programs.--The Secretary 
        may partner with multilateral or multi-donor programs to 
        jointly support an eligible project under this subsection.
            (7) Double counting of assistance.--The Secretary shall 
        take such steps as may be necessary--
                    (A) to prevent the double counting of, or double 
                payment for, results from eligible projects that also 
                may receive funds from other sources, including in 
                accordance with relevant international guidelines and 
                rules; and
                    (B) to ensure that the assistance provided under 
                this section and eligible projects are interoperable 
                and do not supplant or compete with the achievement of 
                country-level commitments under international 
                agreements.
    (f) Multi-Year Agreements Governing the Provision of Outcome-
Oriented Assistance.--
            (1) In general.--Upon determining that an eligible project 
        qualifies for outcome-oriented assistance, the Secretary is 
        authorized to enter into a multi-year agreement with a partner 
        developing country, or appropriate local partners in the 
        partner developing country, to determine the terms and 
        conditions for which the provision of outcome-oriented 
        assistance, in the form of grants from the fund established in 
        subsection (h), may be administered to support an eligible 
        project.
            (2) Prioritization.--The Secretary is encouraged to 
        prioritize consideration of entering multi-year agreements for 
        eligible projects that would directly or indirectly combat 
        illegal deforestation or counter malicious influence from a 
        country of concern in a partner developing country.
            (3) Third-party leverage of funds.--The Secretary is 
        encouraged to prioritize entering multi-year agreements for 
        eligible projects that include terms that leverage funding from 
        non-profits, businesses, other developed countries, and 
        multilateral financing and development agencies.
            (4) Additional economic activities within an eligible 
        project.--Multi-year agreements shall--
                    (A) permit economic activities within the area of 
                an eligible project; and
                    (B) seek assurances that the conduct of such 
                economic activities does not degrade the effectiveness 
                of an eligible project in accordance with the goals 
                described in subsection (d).
            (5) Terms.--In negotiating multi-year agreements under this 
        subsection, the Secretary shall do the following:
                    (A) Reciprocal commitment.--The Secretary shall 
                take steps to ensure that the partner developing 
                country or appropriate local partners in the partner 
                developing country, as applicable, reciprocate the 
                commitments to achieving the goals described in 
                subsection (d).
                    (B) Duration of agreement.--The Secretary--
                            (i) shall negotiate and reach a mutually 
                        agreed upon term-length for each multi-year 
                        agreement;
                            (ii) may renegotiate and re-enter a multi-
                        year agreement prior to or after the terms and 
                        dates of the multi-year agreement expire; and
                            (iii) shall seek assurances that the agreed 
                        upon goals and objectives for enhancing 
                        terrestrial ecosystem services achieved through 
                        the relevant eligible project will last in 
                        perpetuity.
                    (C) Right to title.--The Secretary may negotiate 
                for the United States to own and control title to the 
                greenhouse gas emission reductions associated with the 
                activities of an eligible project for the purposes of 
                counting such reductions toward the international 
                emission reduction commitments of the United States.
            (6) Termination.--An agreement under this subsection may be 
        unilaterally terminated by the Secretary if--
                    (A) the Secretary determines that the partner 
                developing country or a appropriate local partner is 
                failing or has failed to uphold the terms and 
                conditions established for the eligible project; or
                    (B) the Secretary--
                            (i) determines that the eligible project is 
                        not in the national interest of the United 
                        States; and
                            (ii) submits to Congress a notification of 
                        such determination.
    (g) Reviews and Reports.--
            (1) Periodic reviews.--The Secretary shall periodically 
        review and evaluate the progress of eligible projects--
                    (A) to ensure that eligible projects are proceeding 
                successfully and appropriately maintained;
                    (B) to account for and adapt to externalities that 
                could prevent an eligible project from meeting its 
                objectives; and
                    (C) to advise proponents of an eligible projects in 
                planning and executing the eligible project in 
                accordance with this Act.
            (2) Transparency.--The Secretary shall--
                    (A) make publicly available a list of funds made 
                available under the Program; and
                    (B) update on an annual basis the progress or any 
                lack of progress in the implementation of the eligible 
                projects corresponding to such funds and the 
                achievement of the goals described in subsection (d).
            (3) Published certification of partnership.--The Secretary 
        shall annually publish and provide certificates of contribution 
        to private donors that contribute funds that support eligible 
        projects detailed in multi-year agreements that include--
                    (A) the amount of funds the private donor 
                contributed to the eligible project for each calendar 
                year that funds were provided;
                    (B) the location of the eligible project including 
                country and region;
                    (C) the partner developing country or appropriate 
                local partner that is signatory to the multi-year 
                agreement for which the private donor is contributing 
                funds for work on an eligible project; and
                    (D) a summary of the environmental impact of the 
                eligible project including--
                            (i) the size in acres of terrestrial 
                        ecosystems that are being protected or 
                        restored;
                            (ii) the significance of such protected or 
                        restored terrestrial ecosystems; and
                            (iii) the verified amount of carbon 
                        sequestered by the supported project.
    (h) Duplication of Efforts.--In carrying out the program under this 
section, the Secretary shall consult as appropriate with the 
Administrator of the United States Agency for International Development 
to avoid duplicative foreign aid efforts, particularly for conservation 
funds.
    (i) Trust Fund.--There is established in the Treasury of the United 
States a fund to be known as the ``Verified International Terrestrial 
Ecosystem Services Conservation Fund'', which shall consist of--
            (1) amounts appropriated pursuant to the authorization in 
        subsection (j)(1) to carry out this section; and
            (2) such gifts, bequests, or devises of property for the 
        benefit of, or in connection with carrying out this section as 
        the Secretary may accept in the form of donations by 
        individuals or entities, including private entities, non-profit 
        entities, other developed countries, and multinational 
        entities.
    (j) Authorization of Appropriations.--
            (1) Authorization.--There is authorized to be appropriated 
        to carry out this section--
                    (A) $875,000,000 for fiscal year 2024;
                    (B) $875,000,000 for fiscal year 2025;
                    (C) $875,000,000 for fiscal year 2026; and
                    (D) $875,000,000 for fiscal year 2027.
            (2) Availability.--Amounts appropriated to carry out this 
        section are authorized to remain available until expended and 
        shall be used solely for the purposes of this section.
            (3) Salaries and expenses.--Of the amounts made available 
        for any fiscal year pursuant to the authorization under 
        paragraph (1), not more than $4,000,000 is authorized to be 
        made available for the salaries and expenses to carry out this 
        section.
    (k) Natural Forest Reference Baseline for Eligible Projects.--
            (1) Proposals for natural forest reference baseline.--
                    (A) In general.--To receive outcome-oriented 
                assistance under this section for an eligible project 
                qualified to receive outcome-oriented assistance 
                pursuant to subsection (e), a partner developing 
                country or appropriate local partner shall submit to 
                the Secretary a proposal for a forest reference level 
                baseline that is credible, transparent, accurate, and 
                conservatively evaluates and establishes a forest 
                reference level baseline of an eligible project in 
                accordance with the criteria established by the 
                Secretary under paragraph (2).
                    (B) Determination by secretary.--
                            (i) In general.--After receipt of a 
                        proposal under subparagraph (A), the Secretary 
                        shall determine whether the forest reference 
                        level baseline meets the criteria under 
                        paragraph (2).
                            (ii) Provision of outcome-oriented 
                        assistance approved forest reference level 
                        baseline.--If the Secretary determines under 
                        clause (i) that the proposed forest reference 
                        level baseline meets the criteria under 
                        paragraph (2), the Secretary may provide 
                        outcome-oriented assistance for such eligible 
                        project to the developing country or 
                        appropriate local partner in accordance with 
                        this section.
                            (iii) Failure to meet criteria.--
                                    (I) In general.--If the Secretary 
                                determines under clause (i) that the 
                                proposed forest reference level 
                                baseline does not meet the criteria 
                                under paragraph (2), the Secretary may 
                                negotiate with the partner developing 
                                country or appropriate local partner to 
                                reach an agreement on a forest 
                                reference level baseline for the 
                                eligible project in accordance with 
                                paragraph (2).
                                    (II) Provision of outcome-oriented 
                                assistance for agreed forest reference 
                                level baseline.--Once an agreement has 
                                been reached under subclause (I), the 
                                Secretary may provide outcome-oriented 
                                assistance for the eligible project to 
                                the developing country or appropriate 
                                local partner in accordance with this 
                                section.
            (2) Baseline criteria.--The Secretary shall establish 
        criteria for each forest reference level baseline proposed, 
        which shall include requirements that the forest reference 
        level baseline--
                    (A) is used to account for the net size of forested 
                lands or significant naturally vegetated lands achieved 
                from the eligible project;
                    (B) is national, or subnational on an interim 
                basis, in scope;
                    (C) is consistent with the environmental 
                stewardship commitments, targets, or actions that are 
                appropriate for the partner developing country with 
                respect to combatting deforestation or loss of 
                terrestrial ecosystem services--
                            (i) taking into consideration the average 
                        annual historical emissions and removals 
                        associated with the forests, and other 
                        terrestrial ecosystems, as applicable, of the 
                        partner developing country during a period of 
                        at least 5 years; and
                            (ii) if appropriate, using the relevant 
                        2006 IPCC Guidelines for National Greenhouse 
                        Gas Inventories published by the 
                        Intergovernmental Panel on Climate Change to 
                        determine applicable drivers of deforestation 
                        and land use conversion;
                    (D) establishes a trajectory that would result in 
                zero net deforestation by not later than 10 years after 
                the date on which the baseline is established;
                    (E) is updated not less frequently than once every 
                5 years to account for changing circumstances in the 
                developing country;
                    (F) accounts for the size of forested areas based 
                on--
                            (i) remaining natural forest land;
                            (ii) conversions of other lands to or from 
                        natural forest land; and
                            (iii) any other land-use category estimated 
                        to contribute at least 10 percent of 
                        agriculture, forestry, and other land use 
                        emissions in the project area; and
                    (G) takes into consideration existing or planned 
                terrestrial ecosystem services or forest conservation 
                or restoration projects as described in subsection (e) 
                in a partner developing country and the effect those 
                projects might have in determining protection or 
                restoration activities with respect to terrestrial 
                ecosystem services and establishing a forest reference 
                level baseline for eligible projects funded under this 
                Act.

SEC. 5. NATURE-BASED SOLUTIONS.

    (a) In General.--The Administrator of the United States Agency for 
International Development, in consultation with the Secretary, shall 
conduct a program to provide technical assistance to build the 
capacities of partner developing countries and appropriate local 
partners to improve conservation, natural forest management, and 
restoration of natural forests and other terrestrial ecosystems for the 
purposes of--
            (1) enhancing the terrestrial ecosystem services and 
        sustainable economic value of such natural resources; and
            (2) facilitating the preparation of eligible projects in 
        accordance with section 4.
    (b) Eligible Activities.--In conducting the program described in 
subsection (a), the Administrator of the United States Agency for 
International Development may provide technical support to partner 
developing countries and appropriate local partners for the following 
activities:
            (1) Reducing deforestation related emissions, forest 
        fragmentation, and forest degradation of significant forests 
        within a partner developing country.
            (2) Enhancing the natural carbon sequestration ability of 
        the natural forests and the terrestrial ecosystem services of a 
        potential eligible project within a partner developing country, 
        and building resilience.
            (3) Monitoring, reporting, and verification of the 
        environmental, social, and financial quality and integrity of 
        the project as an important component of the work.
            (4) Assisting governments, willing, legitimate landowners, 
        or willing customary use rights holders in developing projects 
        to engage in conservation credit markets through--
                    (A) the implementation of science-based metrics for 
                determining that conservation activities have generated 
                verifiable environmental credits that may be sold to 
                buyers on existing conservation compliance markets; or
                    (B) projects providing outcome-oriented assistance.
            (5) Developing domestic infrastructure and capacity 
        building for creating and tracking conservation credits, such 
        as registries or projects eligible for outcome-oriented 
        assistance, and preparing countries to implement nature-based 
        solution initiatives.
            (6) Ensuring that women, Indigenous Communities, and other 
        local stakeholders are empowered and enabled to meaningfully 
        participate and share in the potential benefits of activities 
        funded under this section.
            (7) Ensuring the additionality of projects, programs, and 
        other activities made possible by funding provided pursuant to 
        this section.
    (c) Authorization.--There is authorized to be appropriated 
$10,000,000 to carry out this section.
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