GHG Emissions - February 9, 2021
Land O'Lakes launches carbon program; Microsoft is its first buyer
Land O’Lakes announced on Feb. 4 that it is launching a new carbon program, TruCarbon, to help farmers generate and sell carbon credits to private sector buyers. Microsoft will be the first secured buyer to purchase carbon in 2021, which will help meet the company’s commitment to be carbon negative by 2030.
Land O’Lakes’ sustainability business and subsidiary Truterra is offering the program, which it hopes will incentivize change at scale. For this initial launch, participating farmers may receive $20 per ton of carbon with payments this summer for this first tranche of credits. Qualifying farmers may be compensated for carbon sequestration retroactively up to five years based on the soil health practices they adopted in prior growing seasons. Truterra will handle soil testing and other activities designed to ensure maximum credit quality and value.
“TruCarbon is proof positive in our belief at Land O’Lakes that farmers and agriculture solve big problems–serving as the economic engine in rural communities, feeding a growing world and now helping to address a changing climate,” Beth Ford, CEO of Land O’Lakes, said in a statement. “TruCarbon is providing farmers new opportunities to be recognized and rewarded for their stewardship, creating new revenue opportunities for farm families as they adopt soil health practices and increasing the focus on carbon storage in crop fields. It’s through innovative approaches such as TruCarbon that our farmer cooperative system can help ensure that farmers’ businesses are profitable, our rural communities are resilient and the land, air and water are healthy for future generations.”
TruCarbon offers buyers carbon credits that are created using soil and conservation science, and precision data and verification methods. The program offers farmers a streamlined experience, making it easier for them to develop and sell carbon credits so that they can focus on crop production and caring for the land.