In the last few years, the term 'carbon farming' has widely been used in agricultural and environmental circles. However, just what does carbon farming refer to, and how exactly can it help farmers profit from the implementation of the same thing on their land while, at the same time, serving the environment? Let's dig into this new environmentally friendly practice where farmers may make a profit from the environment.
What is carbon farming?
Carbon farming, in a nutshell, is carbon dioxide that is absorbed from the atmosphere and sequestered into the soil and the plants. No-till farming, cover cropping, and rotational grazing are just some of the farming methods being used to capture carbon within the soil. Not only does it improve the soil condition but also decrease the gases that contribute to the greenhouse effect, so fundamentally it is part of agriculture known as carbon farming.
What Farmers Get in Return Using Carbon Credits
One of the most interesting pieces about carbon farming is that every metric ton of CO₂ farmed earns farmers a certain amount of carbon credits they can sell to any entity looking to offset carbon footprints. As the carbon market unfolds, most firms would want these credits to reach their climate change goals. By 2022 alone, the carbon credit market has recorded an increased uptake globally and hence opened up for most farmers to monetize on this business venture.
The demand for carbon credits will rise more and produce further returns in a better future for sustainable agriculture practitioners.
Benefits Beyond Profit
Carbon farming is not only about the money but has several other benefits, including better soil health, which means that crops are more productive, the application of chemical fertilizers is reduced, and biodiversity is increased. Healthy soils are better at withstanding droughts and extreme weather, which are fast becoming important as climate conditions change. Farmers transitioning into carbon farming are contributing to sustainability in a very tangible way while benefiting themselves and the planet.
Can Carbon Farming Work?
Although carbon farming sounds like a fantasy, reality is not that simple. Transition is always costly in terms of switching over to more carbon-friendly ways of doing business. To ease the pain of these transitions, incentives in terms of compensation for transitioning are offered through programs such as the USDA's Climate-Smart Agriculture and private enterprises in Europe and Australia. According to a World Bank report released in 2023, it could allow the farmer enough capital to continue making the same or greater profit levels as those earned prior to starting sustainable agriculture while still ensuring sustainability.
Carbon farming is also gaining momentum in India. Regenerative agriculture falls under the carbon farming banner, and the Indian government has been heavily pushing the agenda to meet its sustainability goals. In areas where conventional techniques are used, the Rainfed Livestock Network has helped several farmers transition into carbon sequestering sustainable farming methods.
Future of Carbon Farming
Carbon farming seems to have a great future considering the ever-increasing pressure on the need to cut emissions worldwide. The technologies on the soil monitoring sensors are easily adoptable for tracking the amount of carbon in the soils by farmers. The blockchain technology shall be applied to make the carbon credit market more accessible and transparent, hence ensuring equitable distribution of profit between the farmers.
Conclusion
Carbon farming could be one of the most powerful tools farmers can wield to create a supplementary source of income while contributing to sustainability and good practices. It may be a little work at first, but rewards for the long term are worth it. The critical actors in fighting climate change are farmers who sell carbon credits and are practicing environmentally friendly practices.