The race for carbon in farmland: global mapping of the emerging voluntary market for soil carbon credits

Carbon farming is increasingly promoted as a strategy to achieve net-zero climate targets. This paper examines voluntary carbon market programmes through a global inventory and discourse analysis to identify key actors and how they frame and implement carbon farming. Findings show that agri-chemical firms, agri-tech companies, and new carbon farming startups mainly target large-scale farmers in the Global North. These programmes promote a 'triple win' narrative – climate mitigation, sustainable agriculture, and farmer profit – under a regenerative agriculture branding. However, practical commitment to transformation is limited, often serving corporate interests. The study also highlights challenges in credit integrity and reflects on how soils are revalued as carbon sinks, contributing to debates on the prospects of carbon farming as a dual tool for climate action and agricultural sustainability.