As we move towards the end of the Single Farm Payment and the introduction of the Environmental Land Management Scheme the possibilities for the development of a soil carbon market is attracting attention. Standardisation in the measurement of volumes and permanence of carbon sequestered is badly needed but it is reported that some methods suggest 2 to 3 tonnes of CO2 can be sequestered by soil per hectare per annum and others more than 5 tonnes. The sales price elsewhere in the world for sequestered carbon is reported to be at various levels including £10 and £25-£30 per tonne. Currently a UK Farm Soil Carbon Code is being developed through the Sustainable Soils Alliance which will provide a set of formal protocols to allow the quantification and verification of reduced greenhouse gas emissions and/or soil carbon capture resulting from the adoption of regenerative farming practises.
Already carbon reduction plans are a requirement for businesses wanting to bid for government contracts. The pressure on industry to attain Net Zero status may help drive a lucrative market in soil carbon units and provide a future income stream for farmers.
For further details click here: https://sustainablesoils.org/soil-carbon-code