POST UPDATED with audio
Truterra, the sustainability business of Land O’Lakes, Inc., is reporting high farmer interest and participation in its inaugural carbon program, launched in February 2021 and plans for 2022.
Truterra’s 2021 offering made more than $4 million in cash payments upfront to participating farmers, who sequestered over 200,000 metric tons of carbon. Designed to be the most farmer-favorable contract on the market that generates high quality, verified carbon assets, the 2021 Truterra carbon offering delivered an average payment per participating farmer of $20,000, with some payments of more than $100,000.
For the coming year, Truterra will offer its 2022 carbon program, which is similar to the Truterra 2021 carbon program and focuses on generating carbon assets in partnership with farmers who have recently adopted soil health management practices that store additional carbon in their soils. In addition, Truterra is offering a second approach designed as an “on-ramp” for farmers just getting started with climate-smart practices.
Farmers participating in the 2022 carbon program may be eligible for a one-time, upfront payment of $20 per ton of carbon based on recently adopted changes in soil health practices, including significant reduction in tillage and the addition of cover crops. Eligible cropping systems include corn, soybean, wheat, or cotton as part of farmers’ crop rotations.
New in 2022, Truterra is also launching a forward-looking approach for farmers implementing climate-smart practices for the first time and interested in potentially participating in carbon markets in the future. Truterra’s carbon market access program will engage and support farmers through the process of implementing new practices. Participating farmers may be eligible to receive one-time payments of up to $2 per acre for enrolling in the carbon market access program. Truterra will be developing and testing a suite of support services designed to streamline and facilitate conservation practice finance access, agronomic assistance, and data management.
For more information and to get started, visit www.TruterraAg.com/Carbon.
POST UPDATE
Jason Weller spoke at the American Seed Trade Association (ASTA) CSS & Seed Expo this week about carbon markets and the Truterra carbon program. “We launched our program in February, it was national in scale, we were a little bit blown away by the response from growers,” he said. “Thousands of producers were interested in enrolling in a carbon program.”
Jason Weller, Truterra/Land O'Lakes (6:30)
Interview with Jason Weller, Truterra (11:15)