Following the Biden administration's recent climate-related executive orders, the same administration is now looking at taking climate action a step further. The recent orders include a pause on new oil and gas leases on federal property, "alignment of financial flows with the objectives of the Paris Agreement," and setting a new target for reducing U.S. "Greenhouse Gas" emissions by 2030. 

Read the entire Executive Order on Tackling the Climate Crisis at Home and Abroad.

But you won't believe where that money is coming from.

Biden is setting his sights on American agricultural policy

According to new reports, the White House is looking to take advantage of a new funding source from the U.S. Department of Agriculture's Commodity Credit Corporation (CCC).

During his Senate confirmation hearing, Tom Vilsack said the CCC funds "could be used to create a market to trade carbon or help farmers adopt sustainable agriculture practices." Vilsack said these programs could then be expanded and included in future farm bills.

"It is a great tool for us to create the kind of structure that will inform future farm bills about what will encourage carbon sequestration, what will encourage precision agriculture, what will encourage soil health and regenerative agricultural practices," said Tom Vilsack, Biden's nominee for USDA chief at his senate confirmation hearing.

What is the CCC, and what is its purpose?

For those who may be hearing of the CCC for the first time, the CCC was created during the Great Depression to support farm income prices. It was used to do things like purchase cheese to boost dairy farmers, assist cotton growers with ginning costs, and provide foreign market development, commodity purchases, and export credit.