Jun 24, 2021
Washington, D.C. June 24, 2021. The Senate has passed the Growing Climate Solutions Act, and soy growers are pleased! The bipartisan bill designed to better manage and support carbon markets would make it easier for farmers and others to navigate the carbon market industry.
Kevin Scott, American Soybean Association (ASA) president and soybean farmer from Valley Springs, South Dakota, said, “Soy growers are dedicated to finding ways to improve our natural resources and protect our climate. Many have expressed interest in participating in voluntary environmental credit markets, but the market landscape is evolving quickly and lacks uniform standards. This “moving target” makes it hard for individual farmers to determine which options are best for their operation. Senate passage of the GCSA is a positive step toward ensuring these markets will be transparent and accessible to farmers, allowing them to make informed contributions to climate solutions.”
GCSA establishes a program at USDA to certify technical assistance providers and third-party verifiers for the environmental credit markets and allocates funding for the next four years. The bill also includes protections to ensure farmers participating in carbon markets benefit from reducing their greenhouse gas emissions and supporting climate-friendly practices.
ASA along with other ag groups has been supportive of this bill and sees this as a positive step toward climate solutions that consider farmers and allow them to be a key part of those solutions.