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and other polluters to reduce their carbon Biden urged to move quickly on
emissions or buy permits. Revenue from the carbon bank
permits has helped fund the widespread instal-
lation of dairy digesters, equipment on dairy A group of former Obama administration
farms that captures the methane gas emitted by officials that have recommended a series of
manure to generate power. ways for the new Biden administration to
immediately act on climate change argue
A nationwide cap and trade program hasn’t
been on the legislative horizon since the idea that the carbon bank could be operated using
died in Congress in 2010, but Biden and private the USDA’s Commodity Credit Corp. That’s
market developers are counting on there being a the $30 billion revolving fund that President
robust demand for carbon offsets from a host of Donald Trump used to make trade assistance
corporations, including energy companies, air- payments to farmers to offset the impact of
lines and even major food companies, that need his tariff war with China. The CCC is primar-
to offset their emissions. Many have set emis- ily used to make commodity program pay-
sion targets to meet or exceed the Paris climate ments to farmers and to fund marketing loans
agreement’s goals for limiting global warming. for producers’ crops.

32 www.Agri-Pulse.com