Agriculture Secretary Tom Vilsack has announced new details about the functions and objectives of USDA's Office of Environmental Markets (OEM).

OEM, now part of USDA's Natural Resources and Environment mission area, will work to carry out USDA's climate and rural revitalization goals by supporting the development of emerging markets for carbon, water quality, wetlands and biodiversity, the agency said in a news release.

As set forth by Congress in the 2008 farm bill, OEM will work across government and in consultation with experts and stakeholders to build a market-based system for quantifying, registering and verifying environmental benefits produced by land management activities.

"Environmental markets leverage private investments that result in cleaner air, improved water quality, restored wetlands and enhanced wildlife habitat," said Vilsack. "These markets have the potential to become a new economic driver for rural America, exactly what we need to support a bold, creative future for America's farmers, ranchers and rural communities."

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