Farmers: Eco Friendly Plantation
The researchers conclude that setting up a "trading market," where farmers earn financial incentives for investing in eco-friendly techniques, would result in a double environmental benefit -- reducing fertilizer run-off destined for the Chesapeake Bay, while at the same time capturing carbon dioxide headed for the atmosphere.
The study, Multiple Ecosystem Markets in Maryland, advises the state's Department of the Environment how to set up a "nutrient trading market," as proposed in the 2008 state climate action plan. This nutrient trading would operate alongside markets that sell carbon dioxide credits. The CIER study examines the effects of operating both markets simultaneously.
In these markets, farmers who reduce pollutants below a set level would earn credits. They would sell these credits to other operators, such as sewage and water treatment facilities or power plants that have difficulty meeting environmental targets. No direct government subsidies would be involved.
In these markets, farmers who reduce pollutants below a set level would earn credits. They would sell these credits to other operators, such as sewage and water treatment facilities or power plants that have difficulty meeting environmental targets. No direct government subsidies would be involved.
One key question for policy-makers is whether farmers who achieve reductions in watershed pollution while also capturing CO2 should be able to sell credits in both markets and, in effect, get dual payments for single action. Another key question is whether sufficient carbon dioxide will be captured and traded to justify creation of the market. To determine this, CIER and the World Resources Institute developed a dynamic systems model and projected the likely volumes of carbon dioxide involved.
Dual benefits
As an example of a best management practice providing the dual environmental benefit, the report points to conservation buffers -- putting a green swath of trees or other plants between
The study, Multiple Ecosystem Markets in Maryland, advises the state's Department of the Environment how to set up a "nutrient trading market," as proposed in the 2008 state climate action plan. This nutrient trading would operate alongside markets that sell carbon dioxide credits. The CIER study examines the effects of operating both markets simultaneously.
In these markets, farmers who reduce pollutants below a set level would earn credits. They would sell these credits to other operators, such as sewage and water treatment facilities or power plants that have difficulty meeting environmental targets. No direct government subsidies would be involved.
In these markets, farmers who reduce pollutants below a set level would earn credits. They would sell these credits to other operators, such as sewage and water treatment facilities or power plants that have difficulty meeting environmental targets. No direct government subsidies would be involved.
One key question for policy-makers is whether farmers who achieve reductions in watershed pollution while also capturing CO2 should be able to sell credits in both markets and, in effect, get dual payments for single action. Another key question is whether sufficient carbon dioxide will be captured and traded to justify creation of the market. To determine this, CIER and the World Resources Institute developed a dynamic systems model and projected the likely volumes of carbon dioxide involved.
Dual benefits
As an example of a best management practice providing the dual environmental benefit, the report points to conservation buffers -- putting a green swath of trees or other plants between