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Economy and uncertainty slowing climate-smart practice adoption

Many farmers are anxiously awaiting further details on the 45Z tax credits.

Keith Byerly, sustainability lead with Mosaic, says that although much is still unknown about the details of the credits, they could bring added income to the farmgate.

“We know it’s locked in through 2029.  Beyond that, unfortunately, we don’t know a whole lot right now.”  He says, “If things like tillage reduction and cover crops are ultimately part of lowering the carbon intensity score of some of these fuels, then hopefully the biofuels refiners are able to capture enough value from this tax credit to pass some of that down to farmers.”

He tells Brownfield that uncertainty and a slumping economy are keeping many farmers from fully committing to climate-smart practices.

“Growers are aware of the opportunity, but pulling the trigger on new things is largely on hold for most growers,” he says.

Byerly says Mosaic would like to see nutrient use efficiency measures considered in the final 45Z rules, which could be released by the end of the year.

Brownfield spoke with Byerly at Mosaic’s Advanced Crop Nutrition Forum in Champaign, Illinois.

AUDIO: Keith Byerly – Mosaic