Factors influencing farmers' intention to participate in the voluntary carbon market: An extended theory of planned behavior

Carbon sequestration in agricultural soils is essential for sustainable agriculture, contributing to the achievement of the Sustainable Development Goals and combating climate change. The Voluntary Carbon Market (VCM), designed to encourage farmers to implement sequestration practices, is a recent innovation in Europe, in contrast to the well-established American system. Consequently, there is limited understanding of farmers' intentions to participate. The study analyzes farmers' willingness to participate in VCM and the influencing factors through the Extended Theory of Planned Behavior (ETPB). For this purpose, data were collected from 241 Italian farmers located in the Sicily region and the partial least squares structural equation model (PLS-SEM) was applied. The results show that Attitude, Perceived Behavioral Control and Knowledge of VCM have a statistically significant influence on farmers' intention to participate in VCM. In contrast, Subjective Norms and Perceived Environmental Risk do not have a statistically significant influence. Our findings suggest that farmers' intention is strongly influenced by confidence in their capabilities and knowledge of the topic. This should guide policymakers and practitioners to offer extension services and technical assistance, helping farmers understand the potential of the VCM. Indeed, limited knowledge is a major barrier to participation in this initiative.