Carbon opportunities and challenges
Carbon markets present opportunities and challenges for farmers.
Carson Reeling, an ag economics associate professor with Purdue University, says farmers should consider the verification methods that will be needed for carbon offsets.
“The long-term sustainability of these markets is going to depend really on how high-quality these offsets are and there’s still a lot of unresolved questions about just how good these offsets are,” he says.
Nathanael Thompson, an associate professor of ag economics with Purdue University, says farmers are in a good spot for climate discussions.
Agriculture is being discussed as part of the solution to the problem,” he says. “…and so, we don’t want to overlook the opportunity we have for agriculture to have a seat at the table as part of the solution and not a problem.”
He says there is no one-size-fits-all answer.
“It’s a farm specific evaluation of the costs, benefits, and how it fits into the farm’s overall system,” he says.
Thompson and Reeling spoke during the 2022 Purdue Top Farmer Conference.