Farmers seek to cash in on carbon credits
IFA members in Limerick have asked the Association’s National Industrial Committee and National Council to ensure that farmers’ carbon credit entitlements are not hijacked by the Government.
Members revealed that farmers are being approached by parties interested in buying carbon credits, but farmers have no idea what they are worth. They said farmers who own large areas of young forestry have been approached by major non-Irish industrial companies, willing to pay substantially for carbon credits, because they are facing huge bills in taxation for emissions.
Simon White, Askeaton, told the Limerick IFA monthly meeting, “Farmers who contribute to the reduction in emission levels are entitled to get the benefit.
“There are sections of the economy and companies out there facing very hefty levies in emission taxes, and they are willing to buy carbon credits. There is substantial money involved in this, because as a country, we are seriously over our permitted level of the 1990 base plus 13% by 2012”.
Brian Harty, Clarina, said farmers whose livestock density is under the permitted level may also have credits to sell. “There are records to show what stocking levels were in 1990, and they can be compared with the present level,” he said.
Limerick IFA chairman Michael Roche supported the proposal, calling for an assessment of the situation and advice for farmers.
