CDFA and the Air Resources Board (CARB) will hold a series of workshops beginning next week to explore ideas for public-private partnerships for the Healthy Soils Program. CDFA notes that an advisory panel has received several proposals for expanding the incentives for the program.
In a statement, CDFA Secretary Karen Ross called this “a perfect time” to explore cost-share programs that could expand the acreage in the incentives program. The budget has zeroed out funding for the program for the year due to the pandemic while the cap-and-trade revenues seeding the program have been in a steep decline.
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CDFA will likely be discussing ways to monetize the program’s climate benefits through a carbon offset market. In January a coalition of businesses presented the idea to the advisory panel, as well as to CARB and a few legislators. The panel also heard an idea for Healthy Soils to partner with an existing program that levies a 1% surcharge on diners to support carbon farming.