Growing interest in carbon markets coming from all sides
Interest and growth in carbon market programs is booming.
A recent ecosystem markets webinar hosted by the Illinois Sustainable Ag Partnership had more than 1600 participants registered with more than 600 questions submitted ahead of time.
Speaker Kari Hernandez, Global Head of Carbon Operations and Offer Marketing with Indigo Ag says demand for high quality carbon credits is on the rise and demand is slow to catch up.
“With over 30% of Fortune500 companies making climate neutrality commitments, more and more are going to be looking for carbon offsets to be a part of their plan to get there. The Boston Consulting Group is already stating publicly that they expect to be paying $35 per credit in a few more years and as much as $80 per credit by the end of the decade.”
Adam Kiel, Managing Director for the Soil and Water Outcomes Fund says there is a lot of information in this new space, but ensures farmers they are there to help them create positive change.
“There are several potential ecosystem service revenue sources on a farm, and I want to make sure farmers understand that they have that at their disposal if they choose to make those practice changes.”
Caroline Wade, Program Director for the Ecosystem Services Market Consortium says she is optimistic for the future.
“We are seeing a lot of momentum and I am very optimistic that we can work collaboratively to really make sure we set up a successful marketplace, meet the needs of the buyers and really provide that incentive for the producers to improve their systems.”
Representatives from Nori rounded out the panel that shared their platforms and answered questions. Ag and conservation groups from Iowa, Indiana, Ohio and Wisconsin collaborated with ISAP to offer the two-hour virtual discussion.