Could the Commodity Credit Corporation one day also be seen as a carbon bank?
“Remember the charter of the commodity credit corporation speaks specifically to markets,” said Agriculture Secretary Tom Vilsack. “Stabilizing markets, and yes creating markets. So it’s really designed for this type of opportunity.”
Vilsack said before that can happen, deliberate efforts must take place first to establish a system that benefits farmers.
“To make sure that we learn to walk before we run. So that we learn how to set this up, what to do in terms of providing incentives. Is this a bank that should pay for carbon credits? Is this a bank that should guarantee a price for credit? Is this a bank that potentially should finance the improvements necessary to embrace carbon sequestration and capture? We obviously have to have input form farmers.”
Vilsack added that the CCC has both responsibilities, and adequate resources to cover payments under existing Farm Bill Programs.
“We’re not going to jeopardize our ability to do that I assure you”
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