The number of European farmers participating in carbon certificates has significantly increased, according to agtech company, Agreena.
Reflecting on the results of its second harvest year and annual early payout, the company says the number of hectares enrolled has grown ten times compared with the previous year, and farmer participation has quadrupled.
Highest incentive
Agreena also pays the largest incentives to farmers under current soil carbon schemes – €32 to €36 per anticipated carbon certificate generated, an increase of up to 45% from last year.
According to the company, the primary hurdle in the adoption of carbon sequestration is the upfront cost, so by leveraging the voluntary carbon market (VCM), growers can access a new revenue stream.
“Agreena is introducing a new category of carbon certificates into the market and it’ll take time to build and scale, but farmers can’t wait – they require a reliable and liquid payment to help cover their transition efforts,” says CEO of Agreena, Simon Haldrup.
“That’s why Agreena takes a calculated risk and pays farmers each harvest year. Still, carbon certificates are just one part of the solution and a mix of incentives is needed to rapidly transition the world’s farmers to regenerative practices.”
2023 programme enrolment
The deadline for enrolling in Agreena’s 2023 programme is fast approaching. Farmers have until 30 June to enter this year’s harvest and can calculate their earning potential and apply by completing a form on the company’s website.
Agreena anticipates that as the VCM continues to grow and evolve, the market will see continued developments related to certification and new industry standards. In recognition of this, Agreena’s portfolio of GHG reduction and carbon removal certificates are currently undergoing Verra VCS (Verified Carbon Standard) certification. The outcome is anticipated before the end of the year.
