(NAFB) – Carbon credit markets are showing potential as a possible revenue stream for farmers, thanks to carbon sequestration practices they can implement on their operations.

Ag Secretary Tom Vilsack has come out in favor of the USDA operating as a potential “carbon bank” for U.S. producers that want to participate in carbon markets. Robert Bonnie is President Biden’s nominee for USDA Undersecretary for Food Production and Conservation. He says some questions need to be answered before the agency gets to that point.

Carbon credit markets have been around for a long time. Bonnie says the challenge is making it financially worth it for producers to take the time and effort to implement sequestration practices that will cost money upfront.

There are challenges for farmers who want to take part in the current carbon market program. Bonnie says USDA will likely need to partner with private-sector organizations to help producers overcome those challenges.