Farmers Edge and Radicle announce collaboration for high-tech carbon credit program powered by real-time field data.
Farmers Edge announced a partnership with Radicle Group Inc. (Radicle), developer of agricultural carbon credits, to create a new, high-tech carbon credit program powered by real-time field data.
The partnership is to combine digital infrastructure and carbon credit expertise to deliver a highly precise program that will provide growers with field-level sustainability scores, intelligent greenhouse gas (GHG) management tools, and market access.
Carbon credits to bring additional revenue
Growers are increasingly challenged with producing more and staying profitable while improving sustainability and reducing GHGs. According to Farmers Edge and Radicle, carbon credits, for which prices vary depending on where they are generated and sold, are a strategic way for growers to bring additional revenue.
Data and reporting requirements
The companies say the biggest hurdles for growers looking to generate carbon credits are detailed data and complex reporting requirements. Farmers Edge and Radicle will use standards defined by existing protocols, but their data-driven, automated approach is to transform the experience for growers, from collection to reporting to payouts.
Farmers Edge says it has actively supported growers through the Conservation Cropping Protocol since 2015, and Radicle says it has successfully generated over $ 53 million for Canadian growers.
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Farmers Edge and Radicle offer growers a credit program powered by real-time field data. - Photo: Business Wire
Maximising value of carbon credits for growers
Under the terms of the partnership, the project will roll out in multiple phases, starting with streamlining existing programs in Canada and evolving into the US market. Radicle will manage the credit development process with a focus on maximising the value of carbon credits for growers.
Farmers Edge will provide the technology for carbon management, including tools to measure sustainability metrics, quantify soil health, track agronomic practices, and identify which carbon credits growers can qualify for.
We want to help growers get rewarded for their land stewardship
“We can deliver a premium program that helps growers generate carbon credit revenue with more assurance and less paperwork”, said
Wade Barnes, Farmers Edge CEO and co-founder. “Our digital infrastructure can validate sustainability metrics in near real-time, reducing risk and creating more market stability for all stakeholders. We want to help growers get rewarded for their land stewardship without making them take on all the extra work that’s typically required, and this high-tech program does just that.”
Incentive for growers to implement sustainable solutions
According to Alastair Handley, President of Radicle, the new market access will provide an additional incentive for growers to implement sustainable solutions that sequester carbon in the soil. “Reducing emissions while providing food more sustainably to consumers is a reason to celebrate, and growers should be rewarded financially.”