Bayer has launched a new carbon initiative that will reward farmers in Brazil and the US for implementing carbon capture and sequestration technologies in order to help agriculture reduce its carbon footprint and greenhouse gas emissions.
The company has said the initiative’s 2020/2021 season will consist of approximately 1,200 farmers who will receive assistance in implementing climate-smart practises, Bayer will then acquire the carbon removals created by those practices at transparent prices.
“If anyone has a vested interest in battling climate change, it’s farmers and we are committed to developing new business models like this unique carbon initiative to help them in that fight,” said Brett Begemann, Chief Operating Officer of Bayer’s Crop Science Division.
According to Bayer, soil is one of the most effective ways of sequestering carbon. Today, whilst farmers get rewarded for food, feed and fibre production, Bayer will now further those opportunities and allow farmers to be awarded for sustainability efforts.
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