Nori Inc. is looking to scale up its agricultural carbon credit program through a partnership with agrochemical giant Bayer AG and its new digital platform that helps producers implement and manage regenerative practices such as cover crops and conservation tillage.
The Biden administration is pouring $2.8 billion, far more than originally planned, into a series of pilot projects aimed at developing markets for climate-smart commodities in every state and across a wide range of commodities and farm types. Another $700 million for smaller projects will be awarded later.
The landmark climate deal Democrats hope will clear Congress in coming days would upend the coming debate over the next farm bill, satisfying demands for new conservation spending but leaving farm groups still scrambling to fund enhancements in commodity programs.
Thousands of producers hoping to implement more conservation practices on their farms are lining up for government assistance through the Environmental Quality Incentives and Conservation Stewardship programs, as the Agriculture Department touts the promises of climate-smart agriculture as a mitigator of climate change. But these programs, despite their billion dollar budgets, aren’t equipped to deal with this demand, forcing the agency to turn away the majority of applicants.
Companies and farm groups that are trying to recruit farmers to sign up for climate plans often face skeptical producers who fear that most, if not all, of the financial benefit will go to retailers and manufacturers who get to label their products as good for the environment.