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Truterra looks to build upon its successful 2021 carbon program
ARDEN HILLS, Minn., March 14, 2022 /PRNewswire/ -- Truterra, LLC, the sustainability business and subsidiary of Land O'Lakes, Inc., one of America's largest farmer-owned cooperatives, today announced it will be continuing its relationship with Microsoft as a buyer of carbon dioxide removals in 2022 and 2023.
Under the new agreement, Truterra will be working with its ag retailer network and their farmer-customers to generate carbon assets for sale to Microsoft. Truterra's 2021 carbon program, for which Microsoft was also a buyer, made more than $4 million in cash payments upfront to participating farmers, who sequestered nearly 200,000 metric tons of carbon.
"We value the opportunity to continue working with Microsoft as a buyer of carbon assets produced within a system that puts farmers at the center," said Jamie Ridgely, Carbon
Operations Lead, Truterra. "It is investments such as this that are helping transform agriculture, not only as a way to improve the profitability of the farmers we serve and help address climate change, but also as a way to improve the quality of the soils we rely on for food, feed, fuel, and fiber."
In December 2021, Truterra announced its 2022 carbon program, which included opportunities for farmers who had both recently adopted regenerative practices, plus a new offering designed to incentivize more farmers to put those practices in place on additional fields.
"Truterra is unique because we partner with and work alongside farmers' trusted ag retailers to deliver the tools and resources farmers need -- at whatever stage of the regenerative agriculture journey they are on," said Jason Weller, President, Truterra. "This approach allows us to deliver a scalable process to help farmers develop and market their carbon assets."
"By working directly with farmers and their ag retailers, and by focusing on field-level data coupled with deep agronomic insights, Truterra is working to design and build carbon assets that better meet today's market needs," said Ridgely. "By factoring in elements beyond carbon, such as soil health improvements, we also are adding another element of sustainability to this rapidly evolving market."
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Farmers enrolled in the Truterra carbon program can earn up to $25 per ton for new carbon stored.Find out more