On the margins of the informal meeting of agriculture ministers on soil carbon storage (see EUROPE 12884/7) on Monday 7 February, French Minister Julien Denormandie said that the aim is to create a European framework for issuing carbon credits that can be used economically.
During a visit to Colmar (Haut-Rhin), Mr Denormandie explained that the EU agriculture ministers would be discussing “recognised carbon capture practices that can be transformed into economically valuable carbon credits”.
Julien Denormandie argued that It is necessary to determine carbon calculation methodologies and to validate these methodologies (in France, six methodologies are recognised). The European Commission will make a proposal on the certification of carbon credits by the end of 2022.
In France, the France Carbone Agri initiative has reduced greenhouse gas emissions on farms by 15 to 20%. Over a five-year period, this means avoiding the production of between 350 and 500 tonnes of CO2 equivalent on farms, explained a French expert.
The other important issue to be resolved is the price. “It is a big challenge and we will need the support of the Commission” on the matter of European agricultural carbon credit, said the French minister. “In France, the price is between €35 and €38 per tonne of CO2 equivalent, whereas it is between €5 and €8 in South America, because it is not the same benchmark”, said Denormandie.
The Spanish minister, Luis Planas, considered the subject to be “promising”. In its national strategic plan for the Common Agricultural Policy (CAP), Spain has provided for “additional revenues” for farmers who identify carbon sequestration practices.
France and Spain are forerunners in this field, unlike other countries. Agriculture ministers will debate low-carbon agriculture in Strasbourg on Tuesday, and will adopt conclusions on the subject in March. (Original version in French by Lionel Changeur)