New bill regulating carbon offset market could attract farmers

July 9, 2021 by  
Filed under Eco, Green

Some farmers are turning to carbon capture to make cash outside of traditional farming practices. A new Senate bill could help attract even more farmers to these programs. One farmer taking part in carbon capture programs is Kelly Garrett, a western Iowa farmer who runs a 7,000-acre farm. Traditionally, Garrett has farmed corn and soybeans, but he began incorporating carbon-sequestering processes for income last year. Since contacting Nori, a carbon-market broker, Garrett has earned $150,000 through carbon capture in his soil . Although Garrett’s farm was already ripe for carbon harvesting when he started, it’s difficult to estimate the actual amount of carbon stored.  Related: Carbon dioxide levels in atmosphere reach record high Quantifying the amount of carbon absorbed by farmers has been a big challenge since these programs began. After all, as a report by Grist explains, the carbon offset market “is built on the idea that money will persuade someone, somewhere, to remove  additional   carbon dioxid e from the air.” Critics argue that most carbon offset projects do not work and instead allow corporations to pay money to avoid taking responsibility for their pollution.  The first offset scheme started in 1989 when AES Corporation sought to build a carbon-neutral coal -fired power plant north of New London, Connecticut. The company paid about $2 million to small farmers to plant about 50 million trees that were supposed to absorb all CO2 emissions produced by the plant over 40 years. Although the project worked to some extent, most farmers ended up cutting the trees before the 40 years were up. To address the lack of regulation in carbon offset markets, the U.S. Senate passed a bill last month to get the federal government fully involved. The Growing Climate Solutions Act could help hold corporations responsible and provide farmers with the support needed to adopt practices they have been reluctant to try for years. However, this all depends on how the bill is enacted. Again, critics worry that this carbon offset process falls short of actually helping the environment. “The atmosphere might not be winning here,” said Lauren Gifford, a geographer at the University of Arizona who has studied carbon policy. “But these carbon offsets have provided a very fruitful funding source for conservation .” Via Grist Lead image via Pexels

Original post: 
New bill regulating carbon offset market could attract farmers

Comments

Comments are closed.



Bad Behavior has blocked 13769 access attempts in the last 7 days.