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Report to Congress: A General Assessment of the Role of Agriculture and Forestry in U.S. Carbon Markets

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  • USDA Office of the Chief Economist

Abstract

Excerpt from the report Introduction: This report assesses the current state of carbon markets and provides foundational information to determine the establishment of a Greenhouse Gas Technical Assistance Provider and Third Party Verifier Program at the U.S. Department of Agriculture (USDA). It begins with an overview of current carbon credit markets and activities related to forestry and agricultural carbon credit generation. It then provides information on the supply and demand for carbon credits; descriptions of protocols and registries and other systems used to generate carbon credits; a summary of quantification and accounting methods; an assessment of barriers to entry into carbon markets; and options to address these barriers. Finally, the report discusses opportunities for other voluntary markets outside of voluntary environmental credit markets to foster the trading, buying, or selling of credits that are derived from activities that provide other ecosystem service benefits, including activities that improve water quality, water quantity, wildlife habitat enhancement, and other ecosystem services.

Suggested Citation

  • USDA Office of the Chief Economist, 2023. "Report to Congress: A General Assessment of the Role of Agriculture and Forestry in U.S. Carbon Markets," USDA Miscellaneous 349044, United States Department of Agriculture.
    • Handle: RePEc:ags:usdami:349044
    DOI: 10.22004/ag.econ.349044
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    File URL: https://ageconsearch.umn.edu/record/349044/files/CMR-A1-00185804.pdf
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    References listed on IDEAS

    as
    1. Wallander, Steven & Smith, David & Bowman, Maria & Claassen, Roger, "undated". "Cover Crop Trends, Programs, and Practices in the United States," Economic Information Bulletin 309562, United States Department of Agriculture, Economic Research Service.
    2. Yeh, Sonia & Witcover, Julie & Lade, Gabriel E. & Sperling, Daniel, 2016. "A review of low carbon fuel policies: Principles, program status and future directions," Energy Policy, Elsevier, vol. 97(C), pages 220-234.
    3. Annie Levasseur & Miguel Brandão & Pascal Lesage & Manuele Margni & David Pennington & Roland Clift & Réjean Samson, 2012. "Valuing temporary carbon storage," Nature Climate Change, Nature, vol. 2(1), pages 6-8, January.
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    Cited by:

    1. Cho, Seong-Hoon & Mingie, James C., 2025. "Impact of cost assumptions on forest carbon targets and supply dynamics," Forest Policy and Economics, Elsevier, vol. 172(C).

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