NEW UWA research looking at the economic impacts of implementing soil organic carbon (SOC) sequestration methods into farming practices, is showing that these impacts may prove impractical for farmers....
The authors found that while altering certain practices can be used to increase carbon sequestration it is costly and farmers would require high levels of compensation to make it a viable option.In summary, Direct Action will cost $80 per tonne.
By modeling the cost of these practices researchers estimate the profit loss for each additional tonne of CO2 stored on the model farm was $80.00 which is far more than the initial buying price of $23.00 per tonne under carbon tax legislation.
A/Prof Kragt says there are also a number of other barriers for the implementation of many practices of carbon sequestration.
“There are a lot of opportunities to increase soil carbon but pretty much most of those are categorised as conservation practices and those conservation practices won’t be eligible for carbon credits under additionality”, A/Prof Kragt says.
Additionality is the requirement that any practices implemented create additional sequestration or reductions in emissions than would have occurred under a business as usual scenario.