Carbon Market Outlook For Consultants
Written by By Matt Winslow, NAICC President
Carbon markets have been the topic of many discussions, meetings and webinars this year. Consultants in some areas have already added carbon and nutrient trading as an additional service available to their growers. In addition to advising growers on gas emission reduction practices such as conservation tillage, educating about nitrogen fertilizer use efficiency and cover crops and helping farmers manage conservation and nutrient management programs, consultants may have the opportunity to become USDA-recognized carbon credit verifiers.
How the opportunity is developing
During the second NAICC consultant education webinar on Feb. 2, 2021, Adam Chambers, lead scientist working with environmental markets activities under the Natural Resources Conservation Service’s energy and environmental markets team, reviewed the agency’s role in environmental and carbon markets. He applauded those in agriculture who are actively working to reduce emissions and talked about ways to reduce and trade carbon credits through cropland and animal agriculture. He also stated that he saw consultants being an integral part of the technical service provider portion of any carbon trading program.
Recently, the Senate passed the Growing Climate Solutions Act of 2021. According to the bill’s official summary, “This bill authorizes the Department of Agriculture (USDA) to establish a voluntary Greenhouse Gas Technical Assistance Provider and Third-Party Verifier Certification Program to help reduce entry barriers into voluntary environmental credit markets for farmers, ranchers and private forest landowners. A voluntary environmental credit market is a market through which agriculture and forestry credits may be bought or sold.”
However, the bill states an assessment of carbon markets must be conducted by USDA and the EPA before USDA develops the certification program. The program also calls for an advisory committee to make recommendations regarding protocols and qualifications, best practices and voluntary environmental credit markets.
What is to be expected?
According to the supporters of the bill, the new program will streamline and standardize the process and assist farmers in realizing more return on their investments. As a third-party verifier, consultants can help cut through the roadblocks and complexity of the carbon credit process.
NAICC is tracking developments with this program and will plan to provide more educational opportunities in the future.
