Sustainable ag makes its bid for cap & trade revenues
Supporters of sustainable agriculture are looking forward to some “sustenance” of their own, after an eleventh-hour win in Sacramento. Just as the state’s last legislative session was drawing to a close, Assembly Bill 1532 passed by a vote of 51-28, sending to the governor’s desk a system for allocating cap-and-trade auction revenues, which are expected to reach into the billions of dollars by the end of next year.
AB 1532, authored by Assembly Speaker John Pérez, lays out an approach for ensuring that all proceeds from the sale of permits be used to further reduce greenhouse gas emissions. Among the eligible activities identified in the bill are farming and ranching practices that reduce greenhouse gas emissions and sequester carbon, such as reducing soil tillage, improving energy and water efficiency, and reducing synthetic fertilizer use through compost, cover crops, and crop rotation. Continue reading