Ecosystem services markets are rapidly evolving. These would include carbon sequestration, phosphorus reduction, water quality and conservation, and others. Ecosystem services markets typically function with a financial exchange for outcomes (credits).
We support:
Ecosystem services markets to remain voluntary.
Sound science and public research related to ecosystem services credits addressing Michigan’s diverse agricultural industries.
Standardization, transparency, and clarity related to ecosystem services enrollment contracts and credit(s).
Full recognition of agriculture and forestry’s value to carbon sequestration.
Compensation for farmers for farming practices that keep carbon in the soil or in plant material.
Farmers receiving credit or compensation for maintaining previous or existing practices.
The length of time that farmers are compensated to be consistent with the length of practice implementation.
Michigan Farm Bureau staff, Michigan State University (MSU) staff, and others in their mission to support farmers as they navigate carbon sequestration/ecosystem services credits contracting.
MFB, MSU, and farmers implementing a task force to help set guidelines for carbon credits, to be reviewed at the 2024 MFB state annual meeting.