For those of us needing to catch up review on Government(s) and other “influencers” with regard to carbon sequestration or regulation;

This page is intended to provide bits of interesting or useful information about the state of the economic environment and public perceptions around carbon, carbon markets, regulations and/or impacts of these on farming. It is not likely to be inclusively complete or even correct, although we will attempt to keep the boilerplate and bullsh## to a minimum.

from Bloomberg

European Council endorses review of Common Agricultural Policy

26 Mar 2024 | Sam Balf at FastMarkets Agricensus:

In response to concerns raised by farmers, the European Council has endorsed a targeted review of certain aspects of the Common Agricultural Policy (CAP), as proposed by the European Commission, according to a Council press release on Tuesday March 26.

The Council says the review will address issues with the implementation of CAP strategic plans, while also easing the administrative burden on farmers and providing them greater flexibility in complying with environmental conditionalities set in the CAP.

Since January, farmers have repeatedly taken to the streets across Europe protesting a range of issues, from administration burdens, changes to fuel subsidies and the flow of cheap imports from outside the EU into the single market.

The endorsed changes include amendments to CAP strategic plans and regulations governing financing, management and monitoring. Notably, adjustments to the Good Agricultural and Environmental Conditions (GAEC) standards were also endorsed.

The changes to GAEC standards include greater flexibility relating to soil cover during sensitive periods and the use of crop diversification as an alternative to crop rotation.

Moreover, small farms of under 10 hectares will be exempted from controls and penalties related to CAP compliance, aiming to reduce administrative costs while maintaining environmental goals.

European farmers’ group Copa-Cogeca welcomed the move in a statement on Tuesday that the endorsement of the simplification measures “gave a positive signal” and showed the Council had “an understanding of the difficulties faced on the ground.”

The group said the measures “provide the necessary flexibility for farmers to be able to adapt their practices and respond in a sustainable way” to issues they are facing, such as climate change and market uncertainties.

The European Environmental Bureau (EEB) said in a statement earlier this month, when the proposed changes were first introduced, that the changes “weakened the few remaining environmental requirements in the current ‘green’ CAP.”

The EEB criticized the changes to the conditionalities, including exempting small farms from controls, saying the decisions “were made without any impact assessment” and could “endanger the future viability of European farming and food security.”

The proposal will now advance to the European Parliament, which will employ an urgent procedure for consideration. Adoption of their position is anticipated during the April 22-25 plenary session, and if adopted by the Council and signed by the European Parliament, could come into force by the end of Spring 2024.

In the United States, no national carbon market exists, and only one state – California – has a formal cap-and-trade program.