CORTEVA ANNOUNCES NEW CARBON AND ECOSYSTEMS SERVICES PORTFOLIO TO MAKE AGRICULTURE MORE CLIMATE POSITIVE
Apr. 8, 2021
Source: Corteva Agriscience news release
Wilmington, Del. - Corteva Agriscience (NYSE: CTVA) today announced the creation of a new Carbon and Ecosystems Services portfolio to develop innovative products and services. The initial offering will enable the carbon sequestration process, ease access to carbon credits and create flexible solutions to help farmers increase profitability while contributing to a climate change solution.
Additionally, Corteva has created the 2021 Climate Positive Leaders Program, which will recognize "early adopter" farmers and ranchers who have successfully implemented climate positive agriculture practices. These efforts support 2030 Sustainability Goals and are key components of the company's Climate Positive Commitment.
"As a company committed to helping farmers drive their businesses forward and working to ensure global food security, we are focused on bringing advanced innovations to market that will help increase yield and profitability while also making measurable impact in reducing climate change," said James C. Collins, Jr., Chief Executive Officer, Corteva Agriscience.
"Leveraging the full spectrum of our seed, crop protection, digital technology and agronomic expertise, the products and services we are developing in this portfolio reflect our ongoing progress in delivering on the ambitious goals we set to advance sustainable agriculture, for the benefit of customers, our company and our planet."
Anne Alonzo, Senior Vice President, External Affairs and Chief Sustainability Officer, Corteva Agriscience, added, "We recognize the urgency of addressing climate change to ensure farmers will be able to produce a healthy food supply for generations to come. There is increased understanding that sustainable climate change mitigation is not only critical for our environment but also for ensuring the ongoing health of the farming sector globally. Corteva Agriscience is dedicated to providing our customers with best-in-class solutions to address environmental issues while strengthening their businesses."
Carbon and Ecosystems Services Portfolio
Corteva's new Carbon and Ecosystem Services portfolio, part of Corteva's Digital Business Platform, will provide farmers simple and clear access to incentives and initiatives related to sustainable and regenerative agriculture practices.
Corteva's integrated approach with agronomy support, digital solutions, carbon advisory services and access to carbon markets will help farmers make impactful and sustainable changes that return economic and environmental benefits. Dedicated Corteva Carbon Specialists will work with farmers and industry collaborators across the food and agriculture system to uncover carbon market opportunities. The initiative builds on Corteva's strong history of putting farmers first, as illustrated by the company's facilitation of the first modern carbon payout in 2019 to a farmer for adopting regenerative practices and capturing carbon credits.
The introductory launch of Corteva's Carbon Initiative will be targeted to row crop farmers in Illinois, Indiana and Iowa this year, with the intent to expand to new geographies and crops for the 2022 growing season.
Corteva's differentiated approach for farmers with the initial program includes:
• Providing farmers with access to new markets through a simple, flexible way to sell carbon credits for a fair price on the farmer's terms.
• Allowing farmers to typically earn an estimated $5-$20/acre/year by introducing cover crops and/or reducing tillage with the assistance of their Corteva advisor.
• Third-party verification by the leading independent marketplace provider, Ecosystem Services Marketplace Consortium (ESMC), a non-profit consortium that works to compensate producers who improve the environment through their agricultural practices.
• Offering flexibility for farmers to work with other carbon credit buyers in the future. After the initial period, farmers can continue with Corteva Agriscience or opt to sell new credits to their preferred buyer across the ESMC marketplace.
Additionally, Corteva is uniquely positioned to deliver trusted carbon assets to buyers who are looking to fulfill their sustainability commitments with the assurance of driving scalable, science-based outcomes.
"Carbon programs provide an opportunity to help farmers move into practices that have both financial and environmental benefit. We take pride in the clear water coming off our fields but also know that these practices have to pay," said Tom Anson and Ben Singleton of AMS Farms in Monroe City, Indiana. "Historically, we've tried to do what's right environmentally and agronomically on our operation. As we pick up new acres and implement these practices, we're excited to enroll them with Corteva Agriscience because of the trust we have and the revenue this will generate. Our goal is to work with Corteva Agriscience to help us move faster with confidence into the carbon market while building healthier soils on our operation."
Farmers interested in gaining access to new carbon market opportunities can learn more here.
2021 Climate Positive Leaders Program
Corteva Agriscience's 2021 Climate Positive Leaders Program is a nomination-based farmer and rancher recognition program featuring early adopter producers around the world who are implementing, scaling and sharing climate positive practices. The Climate Positive Leaders Program is open to farmers in the United States, Canada*, Brazil, Argentina, Germany, France, Australia and Kenya. Farmers who meet the program criteria can be nominated by regional third-party organizations, including grower groups, NGOs, universities or other technology assistance partners. A panel of judges will review the applications, with winners and runners-up announced later this year. Winners and their innovative practices will be featured in educational campaigns to scale and promote further adoption of climate- and business-friendly approaches.
Nominations are open now until June 19, 2021. For more information, visit the climate positive leaders program on Corteva.com.
*Void in Quebec.
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry - including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the Company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva became an independent public company on June 1, 2019 and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.