(NAFB) – Farmers are struggling to enter carbon markets.
A new report from Reuters says a climate push from the Biden administration is sparking interest in farm-based carbon credits. Companies like Microsoft are purchasing credits and others like Bayer and Cargill have subsidized projects to incentivize farmers to reduce emissions. The Department of Agriculture is monitoring the success of the carbon markets with an eye on future farm bill programs.
However, a Nebraska farmer told Reuters, “It’s very new; it’s still the wild west.”
Lukas Fricke is generating carbon credits for Microsoft but expects the $20 per credit to not cover the cost of expenses to participate. Much of the cost to companies purchasing credits goes towards verifying carbon-capture claims.
Farmers Find Barriers to Carbon Markets newsdakota.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsdakota.com Daily Mail and Mail on Sunday newspapers.
When Microsoft Corp made a massive purchase of carbon credits in January, it turned to a relatively new source: farmers who plant crops meant to trap carbon in the soil.
Farmers struggle to break into booming carbon-credit market oilandgas360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oilandgas360.com Daily Mail and Mail on Sunday newspapers.
Farmers struggle to break into booming carbon-credit market marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.