Truterra announced the launch of TruCarbon, a carbon program that is to help farmers generate and sell carbon credits to private sector buyers. TruCarbon is launching with Microsoft as its first secured buyer to purchase carbon in 2021.
Truterra, LLC, is the sustainability business and subsidiary of Land O‘Lakes, Inc., one of America’s largest farmer-owned cooperatives. According to Truterra, the newly launched TruCarbon program is the first farmer-owned carbon program.
TruCarbon offers buyers carbon credits that are created using soil and conservation science, and precision data and verification methods. Truttera says the program offers farmers a streamlined experience, making it easier for them to develop and sell carbon credits so that they can focus on crop production and caring for the land.
Through the Truterra Insights Engine data platform, the carbon program is to provide farmers and their ag retailer advisors a powerful soil health planning suite of tools to help them decide what is best for their business while optimising their fields’ carbon credit potential. TruCarbon is also to maximise the value and return for farmers with premium carbon credit value.
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TruCarbon is launching with Microsoft as its first secured buyer to purchase carbon in 2021, which is to help meet the company’s commitment to be carbon negative by 2030. For this initial launch, participating farmers may receive $ 20 per ton of carbon with payments this summer for this first tranche of credits.
Qualifying farmers may be compensated for carbon sequestration retroactively up to five years based on the soil health practices they adopted in prior growing seasons. For maximum farmer convenience, Truterra says it will handle soil testing and other activities designed to ensure maximum credit quality and value. Farmers can begin the information and enrollment process here.
Also read: How to make money from carbon soil sequestration?