Dáil Éireann Debate, Tuesday - 24 May 2022
732. Deputy Denis Naughten asked the Minister for Agriculture, Food and the Marine the plans he has to facilitate farmers trading carbon credits; if he intends to establish a verifiable framework to record and manage net carbon sequestration; and if he will make a statement on the matter. [26352/22]
Amharc ar fhreagraAs part of the commitments set out in the Climate Action Plan 2021, my Department is leading on the development of an enabling carbon framework with the potential for trading, and which rewards farmers for emissions reductions and removals, including through potential private sector investment.
Development of a carbon farming framework is very much in line with the EU’s policy direction and in December 2021 the European Commission published its communication on Sustainable Carbon Cycles (ec.europa.eu/clima/eu-action/forests-and-agriculture/sustainable-carbon-cycles_en) outlining a roadmap for the adoption of both nature-based and technology based carbon storage solutions. The upcoming proposal from the European Commission for an EU regulatory framework for the certification of carbon removals will be an important communication in this regard.
To gain a deeper understanding of relevant issues, I have convened a Carbon Farming Working Group initially draw on expertise from across semi-state and governmental Departments to explore opportunities for the development of practices which encourage the removal of carbon in line with developments at EU level.
Development of a carbon farming framework will require the establishment of baseline data, auditing, the development of voluntary carbon codes, leveraging of private financing through public/private partnerships, and the putting in place of governance structures.
Like many other EU countries, Ireland is beginning to develop experience and knowledge in this area. I have recently provided funding through for initiatives such as the establishment of the National Agricultural Soil Carbon Observatory, the Pilot Soil Sampling Programme and the Farm Environmental Scheme along with a number of European Innovation Partnership (EIP) research projects, to provide the required data for the development of future policy options in this area. In addition, the Woodland Environmental Fund (WEF) run by this department is an early example of an initiative which makes a payment for ecosystem services, including carbon capture.
Carbon farming is an area that will become a crucial part of the future of farming in this country. I know this will be a real opportunity for farmers to derive a new income stream for their farm and I will drive this very exciting opportunity forward.
