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FarmLogs and the team at Bushel have been paying close attention to the evolving carbon market space over the past few years. Our hope is that we can help our farmers understand the options and opportunities available and support them on the journey towards potential new revenue.
While the industry has coined the term “wild west” to sum up the new and evolving complexities, it may not be as tricky as it first appears. In fact, the most challenging part for farmers is in collecting and maintaining their digital practice records (something that you may already be doing through FarmLogs!) and choosing which, if any, programs to enroll in.
Below, we outline three distinctly different program offerings and the types of growers they are designed to best support. Similar to how we’ve done in the past with other programs, we plan to make it easier for you to enroll in any of these by building an integration to give you the ability to share your field boundary shapefiles and activity records so you don't have to manually enter information in another system.
Best for: The Savvy Marketer
Nori’s marketplace lets growers control their own destiny. Unlike other carbon programs that take on the risk of finding carbon credit buyers, Nori’s farmers own their carbon credits themselves and can list them for sale on Nori’s marketplace. Nori generates farmer's credits, or Nori Removal Tonnes (NRT), on the results of adopting regenerative practices as far back as 2011. The farmer then maintains autonomy in setting the price - and keeping 100% of the funds. Future Nori efforts include the launch of its own cryptocurrency for those interested in a new wave of buying, selling, and trading credits.
FarmLogs integration status: available
Best for: The Cautious Optimist
RegenConnect
Cargill has taken the best practices of commodity trading and risk management and applied them to the new space of carbon credits. Growers work through their existing grain originator relationships and can enjoy the benefits of a short contract. Their work with Regrow has created a streamlined enrollment process, making farmer data entry as simple as possible. Cargill also connects farmers to a variety of experts that provide agronomic support and can help find funding for on-farm investment in new practices. Just like other programs, Cargill shoulders the risk in aggregating carbon credit supply and scaling the program, so growers don’t have to worry about the other side of the market. Only available to corn, soy, and wheat growers that are adopting new practices in 2022. The deadline to enroll for this season is September 16th, 2022.
FarmLogs integration status: available
Best for: The Ready Adventurer
CIBO CarbonBridge 25,000 Acre Program
Those corn and soy growers that are ready to adopt new practice changes, or did so as recently as crop years 2021 and 2022, may find the high incentives that CIBO is offering appealing. This program is structured around practice changes, not outcomes, making it a streamlined and simple approach to thinking about carbon credits. Think of this as sponsorship for making changes today that may also lead to additional future upside once CIBO receives approval from the carbon registries to generate actual carbon credits for sale.
FarmLogs integration status: coming soon
How to get started: Complete CIBO's enrollment form, then click here to let us know you're ready to share your field boundaries with CIBO.
We want to help!
Regardless of which program you choose, FarmLogs is endeavoring to support you in your journey. For a deeper read on carbon markets, check out Regrow’s Carbon Markets Ebook.
Your privacy is important to us. FarmLogs will never sell your data. When you sign up through our links, FarmLogs may earn referral fees. This fee does not impact your earnings. If you would like to stay updated on integration status and new programs, join the email list here.
