What is it?
In the context of climate change, you can create new assets by trapping more carbon in your fields and/or reducing your greenhouse gas (GHG) emissions. In short, you can be compensated for your efforts against climate disruption. The exact form those “carbon profits” will take has yet to be determined, but two things are certain: they will grow, and they represent a business opportunity.
However, to take advantage of them, you need to have a track record of your GHG emissions, a measure of the carbon in your soils and a climate transition plan.
With these tools in hand, several avenues will allow you to quickly add value to your GHG reductions or carbon sequestration. We are currently developing these avenues in collaboration with trusted partners.
What’s in it for me?
In the age of climate change, accumulating carbon in your soils and/or reducing your GHG emissions is becoming a new asset whose value is expected to grow.
Processors are increasingly interested in reducing their GHG emissions by working with companies in their value chain, including producers like you.
Non-farm businesses may also purchase your GHG reductions to offset their emissions. The exact amount you will receive is yet to be determined, but it could be close to the Canadian tax on a ton of carbon, which is $50.
This carbon tax will increase by $15 each year until 2030, and will then be worth $170. At that price, a 115-hectare farm that reduces its emissions by two tons per hectare could pocket more than $39,000 each year, for several years.
We are at the forefront of this opportunity for the agri-food sector. Currently, we are the only agri-environmental consulting firm in Quebec that offers this service.
We are already working with governments and non-profit organizations to ensure recognized, reliable and secure accounting and remuneration of GHG reductions.