News

Carbon market contracts should be examined closely before entry: Farm Bureau

American Farm Bureau economist Shelby Myers says the carbon markets offer an additional farm revenue stream but should be approached after appropriate research.

“It’s still in the early stages,” Myers told Brownfield Ag News, “and we highly recommend that before a farmer enrolls in a program that they take a good look at the contracts ahead of time, and make sure it’s the best choice for their farm.”

Ag ecosystem credit markets are voluntary incentive-based revenue options to adopt conservation practices, said Myers, many of which are already in place.

“We’ve got to find solutions that allow early adopters to receive equitable benefits in participating in these markets,” said Myers, “for doing the good work they’ve already done getting to this point.”

There are cautions to be aware of. Myers says there’s extra labor and expense that might be needed to implement practices and verify ecosystem values. She says much of the data inputting requires broadband that mighty not be available in all areas.

American Farm Bureau is offering on its website a series of informational pieces for people considering taking advantage of carbon markets.