Sep 19, 2022 - Business

Little Rock nonprofit aims to standardize climate benefits for farmers

Illustration of combine harvesters making a dollar sign in a field.

Illustration: Lazaro Gamio/Axios

Farmers may soon have a way to get paid out of thin air, or rather what they don't put into thin air.

What's happening: Little Rock nonprofit Winrock International will lead a $20 million pilot project to develop a standardized climate-impact reporting platform for farmers.

Why it matters: It's estimated that agriculture contributes about 11% of greenhouse gas emissions in the U.S., or about 24% globally.

  • While farmers have been adopting more climate-friendly practices in recent years, they lack a standard mechanism to record and capitalize their good works, Winrock's Mary Grady told Axios.

How it works: Grady leads Winrock's American Carbon Registry, the first private voluntary greenhouse gas (GHG) registry.

  • The new online registry will use standardized USDA data so when a farmer reports planting a cover crop on 50 acres, they'll get the same credit as a peer down the road.
  • Credits will accumulate into GHG certificates that can be issued and tracked.
  • A farmer will be able to sell those — much like a carbon offset — or they can package certificates with their commodity when sold, effectively giving the buyer and the buyer's buyer — Tyson Foods or Walmart, for example — credit that can be applied to corporate emissions goals.

What they're saying: "Our objective is to reduce the cost burden on farmers to adopt a wide variety of climate-smart practices and to streamline the verification of climate results," Grady said in a news release.

  • "The project will demonstrate how markets can deliver value directly to farmers by putting them in the driver’s seat," Grady added.
avatar

Get more local stories in your inbox with Axios NW Arkansas.

🌱

Support local journalism by becoming a member.

Learn more

More NW Arkansas stories

No stories could be found

NW Arkansaspostcard

Get a free daily digest of the most important news in your backyard with Axios NW Arkansas.

🌱

Support local journalism by becoming a member.

Learn more