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1 Drake J. Agric. L. Green Issue 1 (2023)

handle is hein.journals/drejloacl1 and id is 1 raw text is: THE BLACK BOX OF SOIL: A BLUEPRINT FOR THE ELUSIVE SOIL CARBON OFFSET CREDITS IN A POTENTIAL NATIONAL CAP-AND-TRADE MARKET Michelle Furrert Abstract ..................................................................................................................2 I. Introduction.........................................................................................................2 II. Soil Carbon Credits............................................................................................4 A. Soil Carbon Production and Offset Basics .............................................4 B. The Current Barriers for Soil Carbon Credit Producers are Drivers for Standardization ...............................................................................7 1. Expense of Soil Measurements ........................................................8 2. Different Protocols and Criteria Create Unequal Credits...............10 3. Land Tenancy Prevents Participation.............................................11 4. Scale Needed for Soil Carbon Credits............................................12 III. Cap-and-Trade Markets..................................................................................12 A. Cap-and-Trade Basics...........................................................................13 A. Lessons from Past, Current, and Future Cap-and-Trade Markets......14 1. The Volatility of Regional Markets................................................15 2. California Cap-and-Trade Program: A Success Story....................17 B. Prior Failed Federal Legislative Efforts .............................................19 1. American Clean Energy and Security Act of 2009 ........................19 2. Growing Climate Solutions Act .....................................................21 IV. A Framework For Soil Carbon Credits in a National Cap-And-Trade Market ...................................................................................................................22 A. An Opportunity in the 2023 Farm Bill...............................................23 1. A Proposed National Cap-and-Trade Market.................................24 2. Creating Equal Carbon Credits Through Verification Protocols and Criteria Standardization................................................................26 3. National Soil Measuring Database to Ensure Transparency and Research Acceleration..................................................................28 B. Criticisms..............................................................................................28 t Michelle Furrer (michelle.furrer@mitchellhamline.edu) expects to receive her J.D. de- gree from Mitchell Hamline School of Law in St. Paul, Minnesota in May 2023. She is the Notes and Comments Editor for Mitchell Hamline Law Review and the president of Mitchell Hamline's Environmental Law Society. Interest in this topic came from researching carbon credit options for her family farm in Washington State. She wishes to thank Professor Mehmet Konar-Steenberg for his expertise, assistance, and support. 1

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