Readout of White House, Department of Agriculture, and Environmental Protection Agency Roundtable on Financing Climate Smart Agriculture

Today, the White House, Department of Agriculture, and Environmental Protection Agency convened a roundtable with key stakeholders from the farm credit and finance community to discuss how the Biden-Harris Administration can leverage its historic investments in climate smart agriculture to reduce emissions and store carbon at scale, while opening up new revenue streams for producers.

America's farmers, ranchers, and foresters play critical role in our fight against climate change through the implementation of climate smart agriculture practices. The Administration has sought to accelerate the expansion of climate smart agricultural practices through the Investing in America agenda by investing in innovative and science-based financial assistance, local technical support, and understanding the business case for climate smart agriculture and forestry.

Participants discussed opportunities to reduce barriers to adoption of climate smart agricultural practices, as these tools must work for operations of all sizes and ensure equity in delivery. Administration officials and participants agreed that to address the climate crisis and build stronger rural economies, solutions should continue to be locally led, science based, and encourage innovation. The discussion also highlighted the role of efforts to improve outreach and education as well as financial and environmental measurement, verification, and reporting. Administration officials sought feedback on implementation of investments, efforts to scale up climate smart agriculture, and opportunities for stacking and aligning incentives.

The discussion emphasized the impact of historic investments from President Biden's Inflation Reduction Act and the importance of improved financing of agricultural practices, technologies, and systems that are part of the climate solution. Participants highlighted the need for aligned and patient capital to support the adoption of climate smart agricultural practices; and, discussed approaches to standardization and scaling of finance solutions. Administration officials closed the roundtable by underscoring the Biden-Harris Administration's commitment to investing in farmers, ranchers, and forester and advancing climate smart solutions through a whole of society approach to tackling the climate crisis.

Attendees:

• Akiptan
• Climate United
• Compeer Financial
• Couser Cattle Company
• Environmental Defense Fund
• Farm Credit Council
• Farmer Mac
• Gradable
• Growers Edge
• National Council of Farmer Cooperatives
• Native Agriculture Financial Services
• Soil and Water Outcomes Fund