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OMAHA, Neb. The main U.S. market for greenhouse gas credits soon will impose new rules designed to bolster the credibility of the carbon credits it sells.
After Jan. 30, ranchers wont be able to market their past efforts to store carbon dioxide in the soil dating back to 2003. Going forward, the Chicago Climate Exchange will accept only efforts to limit greenhouse gases related to the current year and future years.
Ranchers and farmers sign up with the National Farmers Union Carbon Credit Program or another program that bundles many credits together before selling them on the exchange. Those carbon credits are bought by companies, cities or others that want to help offset their emissions because they are concerned about carbon dioxide contributing to global warming.
Criticism
The concept of selling carbon credits for action already done in the past had been criticized because it doesnt necessarily lead to any additional reduction in greenhouse gas emissions. Under the new rules, ranchers shouldnt face as much criticism about getting paid for something they already did, says Dale Enerson, director of the National Farmers Union program.
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