A newly introduced bill to the floor of the United States Senate seeks to generate additional income for the country’s farmers, ranchers and landowners by issuing carbon credits on a larger scale.
If passed, the Growing Climate Solutions Act would establish protocols for members of the agricultural and forestry sector to receive credits for practices that sequester carbon dioxide from the atmosphere, such as reforestation.
Additionally, the bill directs the U.S. Department of Agriculture to provide technical expertise on these projects and facilitate access to the carbon trading markets for members of the sector
The legislation is a rare bipartisan effort to address one of the issues contributing to climate change, while providing a new source of revenue for farmers, ranchers and landowners, many of whom have been impacted by U.S. trade tensions and the Covid-19 pandemic.
The introduction of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which was put in place to cut down on emissions from international flights, is predicted to increase demand for carbon credits when it comes into force in 2021.
The proposed bill has been welcomed by a number of organizations, including the American Farm Bureau Federation, the National Farmers Union, and large foodservice companies, such as McDonald’s.
However, many sustainable agriculture organizations have criticized the bill for favoring larger agricultural businesses over smaller ones, as they are more likely to have the capital and resources to invest in these projects.
Other detractors of the legislation have said that the bill does not go far enough on cutting back on greenhouse gases and would essentially commodify pollution.
Related Articles
Aug. 14, 2023
Unprecedented Heat Sparks More Wildfires Across Greece
Around 4,500 hectares of olive groves have been burned in wildfires across the country. The government promises aid, but farmers want something else.
Nov. 21, 2023
The Agronomic and Macroeconomic Forces Behind Olive Oil Prices in Italy
Despite an anticipated production rebound in Italy, prices will likely remain high. Farmers will need to adapt to a new reality.
Dec. 14, 2023
California College’s Olive Harvest Brings Campus Together
Students and faculty members harvested the Los Angeles campus’s 130-year-old Mission trees to begin what officials hope becomes a new tradition.
Feb. 15, 2024
California’s Wet Winter Leaves Groves Susceptible to Disease, Waterlogging
With El Niño increasingly predicted to last through June, experts advise on how to keep olive tree roots dry to avoid damage from Phytophthora and waterlogging.
Apr. 12, 2024
Global Production May Exceed Expectations, but Not Enough to Move Prices
Analysts predict climate change will result in new price dynamics, with high-quality extra virgin olive oil and other market segments behaving differently.
Jul. 19, 2023
Researchers in California Test New Solutions for Olive Fruit Fly
Researchers at the University of California are testing a range of insecticide products for efficacy in controlling olive fruit flies.
Aug. 17, 2023
Europe Passes Controversial Measure to Restore Nature
The new law, approved with a razor-thin margin, requires member states to introduce measures to restore twenty percent of land and sea by 2030.
Jun. 13, 2023
The Best Olive Varieties for Hobby Growers in Northern California
Whether it is for ornamental purposes or for small-scale table olive or oil production, these olives are perfectly suited to Northern California backyards.