US Senators recently introduced a bipartisan bill that would direct the Agriculture Department to help farmers, ranchers and landowners use carbon dioxide-absorbing practices to generate carbon credits, as per the report by Reuters.
The proposed ‘Growing Climate Solutions Act’ is co-sponsored by Republican Senators Mike Braun (Indiana) and Lindsey Graham (South Carolina), and Democratic Senators Sheldon Whitehouse (Rhode Island) and Debbie Stabenow (Michigan).
“As a Main Street Entrepreneur and conservationist, I know firsthand that if we want to address our changing climate then we need to facilitate real solutions that our farmers, environmentalists and industry can all support,” said Braun.
The proposed bill aims to help the agriculture sector gain access to revenue from greenhouse gas offset credit markets. The new legislation will also create an environmental credit marketplace for farmers.
The bill would establish USDA-certified protocols for farmers, ranchers and forest owners so that they can develop projects in order to generate offset credits under existing programs.
It is likely to offer a new revenue stream for farmers, who are suffering from the economic impacts of global trade tensions and the outbreak of COVID-19.