Biden’s USDA Chief Is Exploring Making a Carbon Bank for Farmers

The Biden administration has begun an intense examination of how to structure a carbon market that would encourage broad participation by U.S. farmers, including whether to guarantee a minimum price for credits given for reducing emissions, Agriculture Secretary Tom Vilsack said Friday.

“We will be exploring in depth how we could structure appropriately a carbon bank that would be designed for and benefit farmers,” Vilsack said in an interview with Bloomberg News. “Would it require a price guarantee on carbon? Would it require a program that invests and provides resources for the capital costs associated with capture of carbon?”

Vilsack ...