One alternative that is being pursued is storing carbon in soils, either as organic soil carbon or plant material.
“Carbon credits are similar in that a farmer undertakes certain practices on their land, and once it’s verified that they’ve done those, it creates a carbon credit that can then be sold to whomever wants to buy these.
Lashmet noted the largely as-yet unregulated carbon exchange market is enticing to many farmers and ranchers hoping to make some additional income.
“This is new territory, and many unknowns exist about the carbon market and these carbon agreements.
I think, right now, there are about 65,000 acres enrolled in these carbon storage agreements that are now entering the verification process,” he said.
Land may change hands over the length of a 10- or 15-year contract, which he said is common among carbon contracts he’s reviewed.