How you farm makes a big difference when it comes to global warming. Producers who till their soil, leave it bare over winter or rely too heavily on synthetic fertilizers are contributing to the greenhouse gas emissions that drive climate change.
However, by switching to practices like cover cropping and no-till, farmers can shift their net carbon balance, so their operations actually sequester more than they emit. That’s because plants naturally capture carbon dioxide from the atmosphere through the process of photosynthesis and incorporate it into the soil.
These so-called “regenerative practices” aren’t just good for the environment. They’re also good for your bottom line. Adding carbon to your soil increases productivity and water retention and reduces the need for fertilizers. And now, it can also bring in a new revenue stream.
In June 2019, Indigo Agriculture announced it wants to pay farmers and ranchers US$15 for every ton of carbon they sequester. The Boston-based company — which offers a line of products and services for farmers — launched the Terraton Initiative in June 2019.
Essentially, it works the same way as schemes that let airplane passengers buy carbon offsets to compensate for the greenhouse gas emissions of their flight. The money comes from green-minded consumers, non-profit organizations, companies and governments that want to shrink their carbon footprint. But instead of using those dollars to plant trees or install solar panels, the Terraton Initiative pays farmers to sequester carbon.
Indigo estimates a typical member will earn US$30–$45 per acre each year. To make sure they’re paying for real results, the company takes soil measurements, supplemented by data from farm equipment and satellite imagery to track each farmer’s agricultural practices. Those numbers get plugged into their software model to calculate how much carbon has been stored.
As of November 2019, more than 12 million acres have been submitted to the Terraton Initiative. Any producer with cropland and pastureland in the United States can apply to participate, and Indigo hopes to expand internationally in 2020.
Ultimately, their goal is to sequester a terraton — a trillion tons — of carbon dioxide from the Earth’s atmosphere. And they insist it’s doable.
Carbon currently makes up somewhere between 0.5 per cent and 1.0 per cent of the Earth’s soil. According to Indigo Agriculture, regenerative practices could boost that to at least three per cent. Doing that on the world’s 12 billion acres of agricultural land would sequester a terraton of carbon — enough to restore carbon concentrations in the atmosphere to pre-industrial levels.
— Julie Stauffer