The Washington Board of Resources, which sets state timber policies, may have to wait a year to have a say in whether the state locks up forests and sells carbon offsets instead of timber.

A spokesman for Public Lands Commissioner Hilary Franz said Nov. 7 that planning to lease 10,000 acres in Western Washington for carbon credits will continue without board direction.

The board could intervene a year from now when DNR is prepared to lease land for carbon offsets, spokesman Kenny Ocker said in an email.

“If the board does indicate that they wish to see those leases before they are approved, then department staff will bring the leases before them,” he said.

Franz chairs the six-member board, but did not involve other members before announcing in April a partnership with Finite Carbon to sell carbon offsets to private companies.

Franz hailed the partnership as “kickstarting a new model for conservation.” She also has compared leasing timberland for carbon credits to renting DNR land to farmers.

Although the board approves timber sales, it does not approve routine agricultural leases.

“This is such a sea-change decision for the trust lands, it ought to go before the board,” said Heath Heikkila, government relations director for the American Forest Resources Council.

“This is not like an agricultural lease. This is not like a grazing lease. It’s totally different,” he said. “The board was cut out from the beginning.”

Finite Carbon and DNR worked on the plan for two years before Franz rolled it out. BP, the oil and natural gas company, owns a majority stake in the Pennsylvania-based company.

DNR timber sales support rural schools and public services. Harvesting the 10,000 acres could be expected to raise about $200 million.

DNR has not estimated how much revenue selling carbon offsets would raise. DNR officials say they have to pick the 10,000 acres first.

“They could at least say, ‘Here’s the hypothetical,’” said Board of Natural Resources vice chairman Bill Peach.

“That’s what’s missing in this conversation — a clear and honest statement about the cost of carbon credits,” said Peach, a Clallam County commissioner, who represents counties that receive timber revenue.

“I don’t think that’s very transparent,” he said.

The American Forest Resources Council estimates $150 million in lost revenue for public services and a $500 million loss to the private economy.

The Board of Natural Resources sets policies for managing DNR land “based on sound principals,” according to state law.

State school Superintendent Chris Reydahl sits on the board, as do representatives from Washington State University, University of Washington and the governor’s office.

Other board members have asked questions about the program. Peach has asked the most pointed questions.

“This is going to continue for awhile,” he said Nov. 7. “I’ll be a strong advocate for transparency, which has been missing.”

Finite took credit for developing and managing the carbon offset program. BP invested $5 million in the company in 2019 and acquired the majority interest the following year. Terms were not disclosed.

A video on BP’s YouTube channel called Finite Carbon a BP “venture portfolio company.” DNR officials say they haven’t paid for Finite’s guidance or guaranteed any future share in carbon offset revenue.

A carbon credit equals 1 ton of carbon. By buying credits, companies can claim to offset their contribution to climate change.