![]() Margy Eckelkamp reports on the ag retail industry, input trends, machinery, technology and more. ![]() “We’re always looking for more creative solutions.”Īnother example shared by Hovsepian is how AB InBev, the parent company of Budweiser, has worked with Indigo to source crops traced to save 5.5 billion gallons of water over conventional practices.Īs of the end of February, Truterra has paid farmers $8 million for carbon offsets, and Carbon by Indigo has produced more than 130,000 carbon credits. “It’s intrinsic to a farmer to be curious, and you have to be OK with failing at something to try something else,” she adds. Spruell Farms worked with Indigo’s Indigo Market+ Source program. “They were looking for truly an authentic traceable part of their supply chain, and through the verifiable processes we have in place, we could leverage our relationship for a premium fiber,” says Elizabeth Spruell. Bayer Carbon Program: A New Revenue Stream for Farmers. Spruell Farms has grown cotton for The North Face as part of its sustainable cotton focus. Both companies believe new programs will open the doors for long-term practitioners.Ī case study for how long-term practices and traceability manifest into such programs can be found in Mount Hope, Ala. Indigo Ag offers a sustainable crop sourcing program for farmers who are using sustainable practices on their farms. ![]() Truterra, offers “look back” programs providing credit opportunities for change practices in the past three to five years. While Ryan sees a future where offsets will continue to be offered, he describes offsets as transactional and insets as transformational. What is the difference between insets and offsets in terms of carbon markets? Insets reduce emissions on the farm based on how the grain was grown, while offsets compensate for emissions elsewhere.Įxplained another way, offsets are a cost-share for a change in practice that leads to fewer greenhouse gas emissions, whereas insets derive their value through the supply chain. “It’s important to understand soaring growth comes from the demand to remove carbon in two different ways - offset or inset - and that we enable both as part of our overall journey.” “With our second crop of carbon credits, we’ve proven this is beginning to be a recurring revenue stream,” Hovsepian says. (Bloomberg) - Bayer AG is seeking to double the sales potential of its crop-science division by tapping opportunities to reduce carbon emissions from farming. Plus, market demand is strong, says Ron Hovsepian, CEO of Indigo Ag. The groundswell of efforts with USDA Climate Smart grants.Tom Ryan, president of Truterra, says this will be a transformational year for two reasons: Bayer’s Carbon Program is one of many ways we’re driving innovations to address climate change from farms around the world. However, 2023 is shaping up as a turning point. To date, most carbon programs available to farmers have required a change in practice, which left many long-term users of no-till practices and cover crops on the sidelines.
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