Factors Affecting Ranchers’ Willingness to Join the Carbon Market

Carbon markets present an emerging opportunity for ranchers to generate additional income while continuing livestock production. However, little research has explored ranchers’ willingness to join these markets or the factors influencing participation. To address this gap, we surveyed 506 ranchers across ten states in the Front Range and Great Plains regions, USA in January 2024. We found that ranchers enrolled in a conservation easement, those who have participated in conservation programs, those who believe their community would support their participation, and those who lack sufficient knowledge to approve or disapprove of the carbon market were more willing to enroll. Conversely, skepticism surrounding the carbon market reduced willingness to participate. Knowing someone enrolled in the market, having a land management plan, annual income, relying on agriculture for 50% or more of household income, and ranch goals had no significant impact on willingness to enroll. In general, ranchers are skeptical of the carbon market and lack trust. Carbon companies should improve transparency regarding costs, payments, and enrollment processes. Additional research is needed to explore strategies for building trust and addressing ranchers’ concerns about carbon markets.