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Sep. 21, 2021 Source: Axiom Marketing news release In 2021 the first Carbon Offsets were paid to farmers for carbon sequestration. A new survey released today shows participation levels and interest in the Carbon Markets from ag retailers, a top source of information for farmers. The research, conducted by Axiom Marketing, a Minneapolis based firm, found that 70 percent of retailers do not understand how to verify carbon to participate in the carbon markets. Of the retailers surveyed, 50 percent say they are unsure if they will participate, with only 8 percent saying the current incentive levels are enough to gain grower interest. The majority of retailers surveyed manage their grower's digital data and promote sustainable activities. This fact should make them an ideal conduit to help growers monetize carbon credits. But, only 29 percent are actively participating and monetizing carbon. "Most retailers are unaware of the major carbon marketplaces," says Craig Dick, head of Axiom's agriculture marketing group. "With most retailers managing their customer data we wanted to understand how many retailers were helping their growers monetize data and sustainable practices." Axiom's survey also found that carbon credits may need to be higher to gain greater appeal. "65 percent of respondents said they think farmers will require more than $10 per acre," adds Dick. "Additionally, 69 percent of retailers expect to be paid more then $5 per acre for carbon credit services. This research provides quantitative support that the current rates of $10-$15 per acre may not be enough to justify carbon negative practices." The survey also dug into what sustainable practices retailers promote, what data layers they collect and how many years of data they have. To download the Axiom 2021 Carbon Market Survey click here. About Axiom At Axiom Marketing, we solve our client's toughest sales and marketing problems with research, experience, and innovation to accelerate their business results. Our market research, strategy development and marketing communications tools can help your business grow. With more than 25 years of experience in agriculture, horticulture, building products and energy, our team is ready to go to work for yours. Learn more at Axiomcom.com Tweet |
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