Conferences
Unlocking a “Good Soil Discount”: how research and a new tool are quantifying the risk reducing benefits of soil health practices
Harley Cross
Summary
Despite the well known agroecological benefits of soil-health practices, adoption still remains low, with persistent issues related to funding the transition and maintenance of more resilient agricultural systems being a major barrier.
However, a significant opportunity exists for financial institutions and policymakers to assess the risk reduction associated with soil-health practice implementation and build that into finance models. This could unlock unprecedented market-based funding mechanisms, and even lead to incentives like a “Good Soil Discount,” to help producers invest in de-risking their operations.
This session will provide the ERME audience with an update on the Land Core Risk Model project, which is developing an actuarially-sound, predictive model of the risk-mitigating benefits of soil health practices such as crop rotations, cover cropping, and reduced tillage on corn and soybean yields. There will be an opportunity to learn about the promising preliminary research findings (in the state of Illinois), led by partners at UC Berkeley, Rice University, Michigan State University, & University of Arkansas, and also see a live demonstration of the beta-version of the online, interactive risk model tool.
Join to learn more about:
- How this tool could assist stakeholders in developing appropriate policies, pricing, & meaningful economic incentives for producers;
- Key takeaways from a partnership with Farm Credit leader, Compeer Financial, & other pioneering lenders and investors;
- How this research can strengthen & supplement federal policy & programs addressing agricultural production risk;
- Opportunities for technical assistance & extension personnel to utilize the data in serving producer demand for support in transitioning to soil health management systems.
Details
| Conference | 2024 Extension Risk Management Education National Conference |
| Presentation Type | 30-minute Concurrent |