Charlie McConalogue (Donegal, Fianna Fail) | Oireachtas source

I thank the Deputy for a very pertinent and relevant question.

As part of the commitments set out in the climate action plan 2021, we are exploring the development of a carbon farming model with the potential for trading and which rewards farmers for emissions reductions and removals, including through potential private sector investment. Such an approach will require the establishment of baseline data, auditing, the development of voluntary carbon codes, leveraging of private financing through public-private partnerships and putting in place governance structures. The development of a carbon farming model of this nature would require the establishment of baselines to ensure that measures taken on farms deliver the additionality required and that farmers are recognised and rewarded for the improvements they have made.

I have provided funding 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. The approach I am taking is in line with the EU’s policy direction and I will look forward to further direction in the Commission’s communication on sustainable carbon cycles, which is due on 14 December.

Carbon farming is an area that will become a crucial part of the future of farming in this country. This will be an opportunity for farmers to derive a new income stream for their farm and I will drive this very exciting opportunity forward at every turn. I look forward to engagement, co-operation and support across the House for something that can be of tremendous benefit to farmers over the years ahead, as well as being important for our emissions reduction targets.

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