Cargill-Led Fund To Pay Farmers For Carbon Capture, Exchange Credits

"Global commodities trader Cargill Inc starting this spring will pay American farmers for capturing carbon in their field soils and cutting fertilizer runoff, an executive said.

The Soil & Water Outcomes Fund, a partnership with the Iowa Soybean Association and third-party verification company Quantified Ventures, will then sell the environmental credits created to polluters such as cities and companies, including Cargill itself, Ryan Sirolli, Director of Row Crop Sustainability at Cargill, told Reuters.

The program is a welcome source of farm revenue as the price of crops such as corn and soybeans hovers near the lowest in several years after the bruising trade war between the United States and China and, now, the coronavirus pandemic that has kneecapped the global economy."

Karl Plume reports for Reuters April 9, 2020.

Source: Reuters, 04/10/2020