Additionality and Voluntary Environmental Credit Markets
The Growing Climate Solutions Act of 2021, among other things, authorizes the secretary of agriculture to develop a program that facilitates farmers, ranchers and private forest landowners in participating in a voluntary environmental credit market, including land or soil carbon sequestration. One of the conditions that needs to be watched carefully as the act is further defined and, perhaps, implemented, is the concept of additionality. Additionality may require the farmer or rancher to do something different to contribute to climate solutions. Doing something different is the key phrase.
To learn more about what additionality means in the environmental credit market, review this article from the Center for Agricultural Profitability.