A new survey by Axiom Marketing shows the participation levels and interest in Carbon Markets from ag retailers, a top source of information for farmers. The research from the Minneapolis-based firm found that 70 percent of retailers do not understand how to verify carbon to participate in the carbon markets. Of the retailers surveyed, 50 percent say they are unsure if they will participate, with only eight percent saying the current incentive levels are enough to gain grower interest.
The majority of retailers surveyed manage their grower’s digital data and promote sustainable activities. This fact should make them an ideal conduit to help growers monetize carbon credits, according to Axiom. However, only 29 percent are actively participating and monetizing carbon. Axiom’s survey also found that carbon credits may need to be higher to gain greater appeal. Sixty-five percent of respondents said they think farmers will require more than $10 per acre.
The National Association of Farm Broadcasting and the American Farm Bureau Federation contributed to this report.