U.S. senators on Thursday introduced a bipartisan bill that would direct the Agriculture Department to help farmers, ranchers and landowners use carbon dioxide-absorbing practices to generate carbon credits, a rare collaboration on climate change.
FILE PHOTO: Republican Senator Mike Braun speaks during a Senate Environment and Public Works Committee hearing, on Capitol Hill in Washington, DC, U.S., May 20, 2020. Al Drago/Pool via REUTERS/File Photo
The bill is co-sponsored by Republican Senators Mike Braun of Indiana and Lindsey Graham of South Carolina, and Democratic Senators Sheldon Whitehouse of Rhode Island and Debbie Stabenow of Michigan. Landowners and farmers can generate credits and earn money for activities ranging from reforestation to sequestering carbon in soil to capturing methane from livestock.
Voluntary offset programs have been around since the early 2000s. In 2018, the average price of such credits was $3/tonne.
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