New Office of Ecosystem Services and Markets

Agriculture Secretary Ed Schafer announced last week the intention toestablish a new USDA Office of Ecosystem Services and Markets, whichwill promote markets for ecosystem services including carbon trading.According to USDA, agriculture producers provide many ecosystemservices which have historically been viewed as free benefits tosociety clean water and air, wildlife habitat, carbon storage andscenic landscapes. Lacking a formal structure to market theseservices, farmers, ranchers and forest landowners are not generallycompensated for providing these critical public benefits. Market-basedapproaches to conservation are proven to be a cost-effective method toachieve environmental goals and sustain working and naturallandscapes. Without financial incentives, these ecosystem services maybe lost as privately owned lands are sold or converted to development.