30 Follow us on Twitter: @PrairieFarming Better Farming | November/December 2023 Carbon Offset Programs Carbon sequestration has become a common topic in agriculture, both in terms of environmental responsibility and as a proposed new opportunity for farmers to bolster their income. These additional profits would come from carbon credit or carbon offset programs. As financial programs attached to carbon production and sequestration are discussed, there are still many questions from producers about which practices are eligible, how they are regulated, and how the value is determined. There could also be producer concerns about the on-farm feasibility and the overall long-term economic sustainability of carbon sequestration practices. Better Farming asked government representatives from Alberta and Saskatchewan, and other professionals, about what these programs look like in different provinces and what their future in agriculture might be. (Editor: We also reached out to contacts in Manitoba, but had not received replies by press time.) What are carbon credits? With differences in programs and regulations across provinces, the definitions of carbon credits and carbon offset may differ. This can contribute to the confusion and hesitancy of Prairies producers to participate in these programs. Sven Anders, professor of Resource Economics & Environmental Sociology at University of Alberta says that, in general, carbon credits are tradable certificates built around carbon sequestration activities. Whoever sequesters the carbon can then sell that certificate to a carbon emitter. A spokesperson for the Saskatchewan Ministry of Environment states that in Saskatchewan, carbon credits and carbon offset have the same definitions. “The terms carbon credit and carbon offset can be used interchangeably. A carbon offset or credit is a tradable unit standing for one tonne of avoided GHG emissions or emissions removed from the atmosphere,” says the Saskatchewan Ministry of Environment. “A carbon offset program is a system used to generate credits using CARBON OFFSET PROGRAMS DO CARBON CREDITS HAVE A FUTURE ON PRAIRIE FARMS? BY EMILY CROFT Stefonlinton/iStock/Getty Images Plus photo
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