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Workshop focuses on carbon credits

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By BILL ROGERS

Highlands Today

Published: May 31, 2009

SEBRING - It has been described as the "new currency for dealing with global warming."

There could be ways for farmers and ranchers to cash in on carbon credits and approximately 65 people attended a workshop Thursday to learn more about it. Sponsored by Highlands County Extension Office, the workshop "Carbon Trading: Market Opportunities for Agriculture" was held at the Bert J. Harris Jr. Agricultural Center in Sebring.

A presentation was made by the business law firm of Dean Mead, which said in information given to attendees that the concept of carbon credits is relatively new, noting the legal consequences and tax ramifications of it are "likewise new, unsettled and, in many cases, untested."

Clyde Fraisse of the University of Florida said greenhouse gases, which have the potential to trap heat in the atmosphere, include carbon dioxide, methane and nitrous oxide. Fraisse said carbon dioxide has increased in the atmosphere by more than 20 percent since 1958 when it was first measured.

He noted that Florida is ranked sixth in the United States in greenhouse gas emissions.

The Environmental Protection Agency has ruled that greenhouse gases are going to be regulated under the Clean Air Act, according to Sandra Kling, research scientist/ greenhouse gas accountant for Eco2Asset Solutions. Facilities that emit more than 25,000 metric tons of carbon dioxide equivalent are going to be regulated under that.

Kling added while that mainly applies to industrial facilities and power plants some agricultural industries, such as dairy farms, are included.

"There is legislation that is forthcoming that is being discussed as we speak," Kling said. "This legislation will impact you. It will impact every sector of the economy so it is something that we all need to be informed about.

"Even though agriculture is not expected to be covered as heavily as other sectors, it is still going to impact us as farmers and foresters," she added. "The cost of our products are going to go up; fertilizer costs are already through the roof. Fuel costs are going to be increased."

The idea of reducing greenhouse gases is of course good for the environment, and using carbon credits could be a strong incentive to help do that.

One carbon credit is equal to one metric ton of carbon emission avoided or removed from the atmosphere.

The carbon credit has a projected value in the trillions of dollars on carbon trading markets throughout the world.

There will be revenue for farmers and anyone else who create emissions-reducing projects. An example in cropland management would be to implement a no-till or reduced-till to increase soil carbon, create field buffers, use cover crops and reduce fertilizer use.

They can earn carbon credits and then sell them.

Dan Flaherty of Southeast Carbon Management LLC in Enterprise, in Volusia County, said it is a matter of educating people about the concept.

"We're trying to tell people what's out there, what's available," Flaherty said.

For a farmer who is interested in carbon credits, Flaherty suggested contacting a broker. He said there are several good brokers and noted that landowner Lykes Bros. has gotten involved in carbon trading.

"All the rules are changing daily," Flaherty said. "That's what we try to keep up with, with all the new stuff."

A DVD on the workshop will be put together. Call 402-6540 for more information.

Bill Rogers may be reached at 863-386-5825 or wrogers@highlandstoday.com.

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