Agricultural carbon markets pay farmers to draw greenhouse gases, namely carbon dioxide, from the air and keep it locked in the soil to fight climate change.
, according to a January report from The Nature Conservancy. Reducing tillage practices and improved management of fertilizers and nutrients could reduce emissions by more than 4 million metric tons."I do think that we run the risk of really losing credibility in the eyes of the public if these markets fail. Because the hype has been so high," said Anna Cates, Minnesota's state soil health specialist. "That's where I see the greatest risk.
Jason Lorenz is another farmer in the pilot program who signed up for the soil improvements that come with practices tied to carbon sequestration and carbon markets. He’s been using cover crops to some extent for a few years and sees improvements on his farm near Little Falls. He has 40 acres enrolled in the ESMC pilot.
ESMC is making changes throughout the pilot as it gathers feedback and is trying to be thoughtful and methodical with its pilot and eventual launch, said Project Manager Stacy Cushenbery. "We have some data, it's not perfect, but we can't wait for another 50 or 100 years until we have the perfect data set," Jackson Hammond said.
The very existence of the market allows big companies to continue emitting greenhouse gases while claiming those emissions are offset by agricultural or forestry practices — even while the jury is still out on whether those practices truly sequester carbon for the long term. Brad Doyle, an Arkansas farmer and vice president of the American Soybean Association, says the price needs to increase to make it worth farmers’ time and effort — whether it's private companies or governments paying the bill.
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