Payments for Regenerative Practices
Due to government subsidies, a number of companies are now paying farmers for regenerative farming practices and conservation practices that reduce greenhouse gases. Agriculture, it is estimated, may be responsible for about 10% of greenhouse gas emissions to the atmosphere. However, agriculture can be a huge sink or storage vessel for stored carbon. Currently only about 15% of farmland is considered regenerative with the goal of reaching 40% by 2030! Reaching that goal will require higher payments to farmers to make that change. Most of the money comes from the Inflation Reduction Act passed last year, around 40 billion dollars. Companies get paid for buying farm commodities that reduce our “Carbon footprint” which can amount to multi-millions of tons of carbon. Several practices are being promoted from cover crops, reduced tillage, nutrient optimization, agro-forestry practices, and grazing. Farmers will have many opportunities to participate in these government/company sponsor...