Denis Naughten (Roscommon-Galway, Independent)
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173. To ask the Minister for Agriculture, Food and the Marine his plans 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. [26283/22]

Charlie McConalogue (Donegal, Fianna Fail)
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It is my firm contention that farmers must be recognised for their environmental ambition and rewarded accordingly.

The Climate Action Plan 2021 commits to the development of an enabling framework for the potential trading of carbon credits, and which rewards farmers for emissions reductions and carbon removals, including through potential private sector investment.

I recognise the 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 outlining a roadmap for the adoption of both nature-based and technology based carbon storage solutions. I look forward to the upcoming proposal from the European Commission for an EU regulatory framework for the certification of carbon removals in this regard.

To gain a deeper understanding of relevant issues, I have recently convened a Carbon Farming Working Group, chaired by officials from my department and initially drawing 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.

In development of a carbon farming framework 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 good governance structures will be required.

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 my department is an early example of an initiative which makes a payment for ecosystem services, including carbon capture.

I strongly believe that 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.