Dieter Helm's lecture series on farming.

2. THEMES
• Net zero and what it means
• Agricultural emissions
• Natural carbon sequestration
• Carbon taxes
• Carbon offset payments
• Normalising carbon farming

3. NET ZERO WHAT IT MEANS
• A unilateral target – but what about trade?
• The CCC are wrong to claim that when we get to zero emissions, we will no longer
cause any climate change.
• CCC Net Zero Report 2019
“By reducing emissions produced in the UK to zero, we also end
our contribution to rising global temperatures”.
• The scale of the challenge
• What land use will have to contribute

4. AGRICULTURAL EMISSIONS
• 0.6%GDP
• 12% emissions
But excludes;
• peat
• Soils
• Biomass loss
So real carbon emissions are more like 15 % ++
Ammonia, red diesel, heating, feed, pesticides, etc etc etc

5. NATURAL CARBON SEQUESTRATION
Emissions Emissions

6. CARBON TAXES
• Current carbon prices – carbon floor price, EUETS
• Offset contract values
• Price needed to meet net zero
• Carbon border tax

7. CARBON OFFSET PAYMENTS
• The offset concept
• Additional investment vs. business as usual
• Bilateral contracts
• Carbon offset markets
• Taxation & quality assurance

8. NORMALISING CARBON FARMING
• Future agriculture has multiple outputs
• Balance sheet is carbon storage assets
• Capital maintenance for carbon crops
• Carbon offsets one of portfolio of investment options