Why Have Carbon Markets Not Delivered Agricultural Emission Reductions in the United States?

In a climate change-focused issue of Choices Magazine, the Nicholas Institute's Brian Murray explores why carbon markets have not delivered agricultural emissions reductions in the United States. Beyond the political failure of a national, economy-wide, cap-and-trade program, he points to the minor role of agriculture in the carbon markets that do exist and to unforeseen adoption hurdles and transaction costs. He suggests that the sector’s GHG mitigation could ramp up as part of recently broader use of carbon markets and with the support of targeted public and private sector programs.

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