More than $3 billion in USDA cost-sharing funds will be available to producers and foresters for climate mitigation projects in the fiscal year that begins this Sunday, the Agriculture Department said on Thursday. The money is part of $20 billion earmarked for USDA land stewardship programs in the 2022 climate, healthcare, and tax law with a priority on reducing greenhouse gas emissions or increasing carbon sequestration.
“This funding will be used to meet producer demand for our oversubscribed programs and maximize climate benefits across the country while also providing other important environmental benefits,” said Agriculture Secretary Tom Vilsack. “This includes investing in popular commonsense practices such as cover crops, waste and fertilizer management, and grazing practices while continuing to work through existing programs to help producers address other natural resource challenges.”
More than half of the money, $1.65 billion, will be available through the Environmental Quality Incentives Program. The Conservation Stewardship Program would receive $472 million, the Agricultural Conservation Easements Program would receive $189 million, and the Regional Conservation Partnership Program would get $754 million. The USDA said a wider list of EQIP and CSP practices would qualify for climate mitigation funding and a larger number of priority areas would qualify for ACEP climate mitigation funding.
The USDA put $850 million of the climate mitigation money in the four voluntary conservation programs this fiscal year. Last week, the agency reported record interest in the programs.