The Carbon Border Adjustment Mechanism in the agricultural sector: what prospects?

Lorenzo del Federico and Silvia Giorgi

Chapter 6 in Biodiversity and Climate, 2024, pp 88-98 from Edward Elgar Publishing

Abstract: Soil carbon sequestration (SCS) through increased humus building on croplands and grasslands is part of the international carbon agenda; see for example the ‘4-per-1000’ initiative. SCS measures also contribute to climate change adaptation and food security and thus have important co-benefits. The chapter specifies a feasible ‘4-per-1000’ scenario for Austria and estimates the microeconomic costs and macroeconomic impacts of selected SCS measures. The direct economic costs range from 0 €/ha/year for forage production to 450 €/ha/year for non-use of arable land (green fallow). The macroeconomic impacts are slightly positive and amount to 100 million € per annum. SCS measures usually impose additional costs on individual farmers, while the benefits and co-benefits of the measures have public good character. Therefore, political incentive schemes, such as those known from agri-environmental programmes, should accompany the transition to climate-friendly and resilient agriculture.

Keywords: Economics and Finance; Environment; Law - Academic; Politics and Public Policy Sustainable Development Goals (search for similar items in EconPapers)
Date: 2024
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