Commercial, Energy Efficiency, GHG Emissions - October 16, 2020
Companies begin to test new agricultural credits for carbon goals
Several large corporate customers became the first companies to commit to purchasing verified agricultural credits to support farmers and incentivize carbon sequestration through the planting of natural “carbon sinks”.
The list of companies first to participate in this new credit program from Indigo Agriculture includes Boston Consulting Group, Shopify, Barclays, JPMorgan Chase, Givewith, IBM, Dogfish Head Craft Brewery, and New Belgium Brewing. The companies agreed to a credit purchase price of $20 per ton of CO2e sequestered and abated in the 2020 growing season.
Indigo and the nonprofit Climate Action Reserve developed the Soil Enrichment Protocol that allows for comprehensive and scalable long-term monitoring of on-farm emissions, abatement and carbon removal.
In order to create the new offset project methodology, the Reserve called together a 21-member group including organizations such as Woods Hole Research Center, Native Energy, C-Quest Capital, The Nature Conservancy, and World Resources Institute. The group developed the Soil Enrichment Protocol, which will be available to any carbon project developer in the U.S.
Many of the companies that have leveraged verified agricultural carbon credits are using them as a way to achieving their sustainability and net zero goals.
“Working with Indigo to brew Re-Gen-Ale, the first traceably sourced beer to address climate change through agriculture using Indigo Carbon, has been a truly rewarding and thought-provoking experience,” Sam Calagione, Founder and Brewer at Dogfish Head Craft Brewery, said in a statement. “It is an example of how thoughtful and sustainable choices, both big and small, can impact our environment, and it has taught us about new, nature-based solutions we can implement to reduce our carbon footprint and help combat climate change while brewing unique and delicious beers. We look forward to continuing our relationship with Indigo as we brew more batches of Re-Gen-Ale.”