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Article

Willingness to Pay for Crowdfunding Local Agricultural Climate Solutions

1
BI Norwegian Business School, 0484 Oslo, Norway
2
NORSØK, Norwegian Centre for Organic Agriculture, 6630 Tingvoll, Norway
3
Fagskolen Kristiania, 0153 Oslo, Norway
*
Author to whom correspondence should be addressed.
Academic Editors: Dario Siggia and Ashutosh Kolte
Sustainability 2021, 13(16), 9227; https://doi.org/10.3390/su13169227
Received: 30 June 2021 / Revised: 4 August 2021 / Accepted: 9 August 2021 / Published: 17 August 2021
(This article belongs to the Special Issue Sustainable Agricultural Economics and Policy)
The recent rise in climate concern among citizens worldwide is coinciding with a rising interest in agricultural climate solutions. The future scaling-up of these solutions, however, requires more knowledge about the mitigation potential, costs and financing options, including crowdfunding (CF). Our objective is to explore the driving factors behind the public’s willingness to pay for crowdfunded climate mitigation projects at the farm level. In this study, four mitigation options from the perspective of farmers were identified: solar panels on the barn roof, biogas from animal manure, drag hoses for improved manure dispersal, and the addition of biochar to soils. The study investigates the optimal characteristics of crowdfunding campaigns to finance such mitigation measures. The most influential factors on the respondents’ WTP is neither climate concern nor proximity, but instead the knowledge regarding CF, combined with how comprehensible and salient the suggested measure is. The main implications are that future projects that aim to achieve broad participation in CF campaigns need to communicate well, to improve both public knowledge of the funding mechanism (CF) itself and the comprehensibility and salience of the agricultural measure. View Full-Text
Keywords: crowdfunding; agricultural economics; climate change; willingness to pay; carbon offsetting; sustainable agriculture crowdfunding; agricultural economics; climate change; willingness to pay; carbon offsetting; sustainable agriculture
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MDPI and ACS Style

Stoknes, P.E.; Soldal, O.B.; Hansen, S.; Kvande, I.; Skjelderup, S.W. Willingness to Pay for Crowdfunding Local Agricultural Climate Solutions. Sustainability 2021, 13, 9227. https://doi.org/10.3390/su13169227

AMA Style

Stoknes PE, Soldal OB, Hansen S, Kvande I, Skjelderup SW. Willingness to Pay for Crowdfunding Local Agricultural Climate Solutions. Sustainability. 2021; 13(16):9227. https://doi.org/10.3390/su13169227

Chicago/Turabian Style

Stoknes, Per E., Olav B. Soldal, Sissel Hansen, Ingvar Kvande, and Sylvia W. Skjelderup. 2021. "Willingness to Pay for Crowdfunding Local Agricultural Climate Solutions" Sustainability 13, no. 16: 9227. https://doi.org/10.3390/su13169227

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