The role of information in shaping the emerging agricultural soil carbon market

Abstract

The agricultural soil carbon market that has emerged in recent years is widely regarded as a promising opportunity for farmers in the Global North and South, enabling them to generate carbon credits and derive a source of income from the adoption of alternative land management practices which contribute to climate change mitigation by increasing soil carbon sequestration and/or reducing soil-derived greenhouse gas emissions. This paper takes the UK as a case study and explores farmers' willingness to engage with a dynamic and evolving market, based on their access to information, confidence in carbon developers' and investors' positive market sentiment, and expectations as regards the growth and development trajectory of the market. Data for this study were collected through key informant interviews with 24 farmers across England. Results suggest farmers are reluctant to engage with the market as discourse has become polarised, with the amplification of certain positions and perspectives making it difficult to decode and evaluate the messaging received. This paper generates important insights regarding the role of information in shaping the market and the extent to which a polarised discourse is undermining farmers' willingness to engage with the market. Moreover, it outlines how policymakers and practitioners could ‘unlock’ the potential of the market by enhancing the availability of, access to, and exchange of credible, context-appropriate market-related information. This will ensure farmers are able to make informed decisions as regards the market and reduce the likelihood that an avoidable information void stymies long-term market growth and development.