WASHINGTON (Oct. 19, 2020)—Voluntary carbon markets allow farmers and foresters to get paid for using climate-friendly practices while helping companies reduce their carbon footprint. Given these positive outcomes, it’s no surprise voluntary carbon markets have received increasing support from policymakers on both sides of the aisle.
In a new policy study , R Street Director of Government Affairs, Caroline Kitchens, delves into the benefits and challenges of implementing voluntary carbon markets. With voluntary carbon markets increasing in popularity in both the private sector and Capitol Hill, bills such as Growing Solutions Act are gaining traction.
“Voluntary carbon markets in agriculture are indeed at a crucial tipping point. Policymakers have a role to play in bringing greater validity to the markets, which will ensure that this momentum is not wasted and is instead channeled toward projects that yield long-term environmental benefits for us all,” said Kitchens.
While voluntary carbon markets have significant implementation challenges, they have the potential to lower U.S. greenhouse gas emissions by an estimated 10.55 percent. As more companies announce ambitious emission reduction goals, voluntary carbon markets are poised to play a key role in achieving those goals.
You can read the full policy paper, “Carbon Markets in Agriculture: A Market-Based Conservation Solution,” here .
- “new policy study”: https://www.rstreet.org/2020/10/19/carbon-markets-in-agriculture-a-market-based-conservation-solution/
- “here”: https://www.rstreet.org/2020/10/19/carbon-markets-in-agriculture-a-market-based-conservation-solution/