U.S. Chamber Letter on a Hearing on Voluntary Carbon Markets

Thursday, September 23, 2021 - 9:15am

Dear Chairman Scott and Ranking Member Thompson:

          The U.S. Chamber of Commerce applauds the committee for holding the upcoming hearing, “Voluntary Carbon Markets in Agriculture and Forestry.”

          With respect to the Committee’s jurisdiction and focus, the Chamber supports S. 1251, the “Growing Climate Solutions Act of 2021” as a key tool to help meet global climate goals. The Chamber’s principles on climate policy focus on market-based mechanisms to drive greenhouse gas emissions reductions.

          Through its innovative framework that rewards farmers and other land managers for taking voluntary actions to reduce emissions, the Growing Climate Solutions Act would facilitate a new, cost-effective option for addressing climate change. Many businesses are depending on the establishment of such voluntary offset markets to meet their ambitious climate commitments. Promoting responsible resource management and nature-based climate solutions through financial incentives for voluntary conservation and sustainable land-use practices is a win-win policy that will benefit American agriculture, its supply chain, the broader business community, and the environment.

          The Chamber stands ready to assist as the bill advances through the legislative process.

Sincerely,

Martin J. Durbin

cc: Members of the Committee on Agriculture