The value of carbon credits linked to grass will be extremely high, relative to those associated with other land use management options.
This is according to Farmers for Action (FFA) spokesperson, William Taylor.
“Research is now pointing to the unique potential of grassland to sequester carbon dioxide [CO2] from the atmosphere.
“This is because, unlike other crops, grass is growing all year round. So, it is important that all of this potential, in terms of future carbon credit values, is fully maintained within the ownership of farmers.”
The FFA representative said he does not want the value of these future assets diluted by purchasing decisions taken by the food processing and retail sectors.
“This is why farm gate produce prices must not be linked to carbon reduction schemes that are introduced at some future date,” he told Agriland.
“And the same principle holds where future carbon farming schemes, funded from the public purse are concerned.”
Carbon credits
Taylor specifically referenced Northern Ireland’s new Beef Carbon Reduction (BCR) scheme in this context.
“Farmers across Northern Ireland must also realise that the results generated by the Soil Nutrient Health Scheme are confidential between them and the government until they sign them away,” he continued.
“In addition, the carbon credits on their land in relation to soil, cereals, grass, hedgerows etc., are theirs to sell.
“This is already happening with many cereal growers selling their carbon credit for approx £60 plus per hectare annually.”
Significantly, the FFA representative is questioning possible links between the BCR and future carbon credit schemes.
“This may mean that farmers may not be able to claim both carbon credits and the BCR on the same land at the same time. This is a matter that FFA is currently investigating.
“Clarification from Northern Ireland’s DAERA minister, Andrew Muir, on this crucially important issue must be forthcoming.”
In the meantime, FFA is seeking an annual ‘opt out clause’ linked to BCR applications, which will allow farmers secure the full value of carbon credits into the future.
“Opt outs from the scheme should be provided for on an annual basis,” Taylor stressed.
“There should be provision for this approach to be taken within BCR application forms. However, this is not the case at the present time.
“All forms must be submitted online, an approach that denies farmers the chance of including additional commentary of their own.
“But the real end game is that of allowing farmers to fully avail of both the BCR and future carbon credits accruing on their lands.”
