ESMRC – or the Ecosystem Services Market Research Consortium – serves as the research arm of ESMC. ESMC members are also ESMRC members. The work of ESMRC is funded by a $10.3M, 3-year grant from the Foundation for Food and Agriculture (FFAR), matched by $10.3M in cash and in-kind contributions. Cash and in-kind contributions are raised through member dues, member investments in ESMRC goals and objectives, and through philanthropic and other non-federal funding sources of cash and in-kind match.
ESMRC goals and objectives guide investments in the necessary research, development, demonstration and deployment (RDD&D) to support a full-scale launch of the ESMC market in 2022. Focus areas included improved and technologically advanced approaches to ecosystem services asset quantification, including Measurement, Reporting and Verification (MRV) technologies, and an advanced MRV platform; and primary research on soil carbon sequestration.
ESMRC work is achieved through member engagement and through four topical Working Groups, as shown below. All ESMC/ESMRC members can participate in the Working Groups of their choice. Working groups recommend investments in activities and RDD&D to achieve ESMRC goals and objectives, which are voted on by the ESRMC governing structure.
The ESMRC governing structure includes the ESMC Steering Committee and Executive Director, and the ESMRC Executive Committee – comprised of ESMC Founding Circle members, FFAR representation, and ex-officio USDA and DOE representatives. Governing structure members vote on WG recommendations to allow ESMRC investments to flow.