This week the Ag Carbon Markets Working Group launched www.agcarbonmarkets.com as a resource tool for the agriculture community. The Web site is geared towards helping farmers understand the potential financial benefits of climate legislation pending before Congress. Current estimates of U.S. greenhouse gas markets indicate that U.S. farms have the potential to mitigate as much as 40% of our nation's total climate impact with practices such as soil carbon sequestration or methane capture.
Under the Lieberman Warner Climate Security Act, which is now before the Senate, U.S. agricultural producers could receive billions of dollars annually from offset markets or choose to participate in a USDA carbon conservation program funded by the climate market. However, these new markets are not assured as the final bill has not passed the Senate floor, and the House has yet to announce their own version of a climate bill.