US Agriculture as a Carbon Sink: From International Agreements to Farm Incentives

Oranuch Wongpiyabovorn, Alejandro Plastina, John M. Crespi
November 2021  [21-WP 627]

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Suggested citation:

Wongpiyabovorn, O., A. Plastina, and J. Crespi. 2021. "US Agriculture as a Carbon Sink: From International Agreements to Farm Incentives." Working paper 21-WP 627. Center for Agricultural and Rural Development, Iowa State University.


Abstract

This article examines voluntary agricultural carbon programs in the United States, the policy of international agreements to prevent further global warming, and reviews literature related to that policy and its impact on U.S. carbon programs. We discuss international, national, and regional carbon pricing mechanisms that provide the market signals to consumers and suppliers of carbon credits in detail in order to compare and contrast different programs that impact agricultural carbon markets. Economic descriptions of the programs are derived. This article is useful for those who wish to know how U.S. policy currently influences agricultural carbon markets as well as how proposals may need to be structured in order to avoid potential market obstacles.