New bill to regulate the carbon offset market may attract farmers

Some farmers are turning to carbon capture to make money outside of traditional agriculture practice. A new Senate bill can help attract more farmers to participate in these programs.

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A farmer participates Carbon capture The project is Kelly Garrett, a farmer in western Iowa who runs a 7,000-acre farm. Traditionally, Garrett grows corn and soybeans, but last year he began to incorporate carbon storage processes into his income. Since contacting Nori, a carbon market broker, Garrett has earned $150,000 through his carbon capture. soilAlthough Garrett’s farm was suitable for collecting carbon from the beginning, it is difficult to estimate the actual amount of carbon stored.

Related: Atmospheric carbon dioxide levels reach record highs

Since the beginning of these programs, quantifying the amount of carbon farmers absorb has been a huge challenge.After all, as a Grist report explains, the carbon offset market is “built on the basis that money will persuade someone somewhere to remove additional carbon dioxideelectronic From the air. Critics argue that most carbon offset projects do not work, but instead allow companies to spend money to avoid taking responsibility for their pollution.

The first offsetting program began in 1989, when AES was trying to establish a carbon neutral coal-Thermal power plant north of New London, Connecticut.The company paid about US$2 million to small farmers and planted about 50 million trees that should have absorbed all the carbon dioxide Emissions The factory has been in production for more than 40 years. Although the project worked to a certain extent, most farmers cut down trees 40 years ago.

In order to address the lack of regulation of the carbon offset market, the US Senate passed a bill last month requiring the federal government to government Fully participate. The Growing Climate Solutions Act can help companies take responsibility and provide farmers with the support they need to adopt practices they have been reluctant to try for years. However, it all depends on how the bill is formulated.

Similarly, critics worry that this carbon offset process does not really help the environment. “The atmosphere may not win here,” said Lauren Gifford, a geographer at the University of Arizona who studies carbon policy. “But these carbon offsets are protection. “

by Grist

Main image on Pexels

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