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TRUTERRA ISSUES INAUGURAL ROUND OF CARBON PAYMENTS TO FARMERS--$4.2 MILLION
Nov. 24, 2021
BrownfieldAgNews reports:
Truterra has finalized and released its first round of carbon payments after launching TruCarbon in February.
Jason Weller is the president of Truterra, the sustainability business and subsidiary of Land O'Lakes.
"We're excited that we just finalized and issued all of our total payments of just over $4.2 million in payments to our growers for our first round of carbon," he says. "It's a big success and our farmer customers in this case are feeling really positive about their experience."
He tells Brownfield the next carbon offer for 2022 will be launched in December.
"In the first round we had a limited amount of carbon to transact and were fortunate to have a buyer on the other side and so now we're looking to significantly grow our availability of carbon that we can now purchase from farmers," he says. "...we're looking ahead into 2022 significantly growing this across the U.S. and having more farmers eligible for the program. We're going to be even more efficient and effective in enrolling farmers, giving them the support they need to adopt these practices, to collect the data, quantify the carbon in their soils and then hopefully get them paid at a higher rate."
TruCarbon helps farmers generate and sell carbon credits to private-sector buyers. The program launched with Microsoft as its first secured buyer to purchase carbon in 2021.
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