Indigo Ag announced the completion of its second carbon crop, consisting of more than 110,000 carbon credits. The credits were issued by the Climate Action Reserve and produced by U.S. farmers enrolled Indigo’s carbon farming program, Carbon by Indigo.
The company states that its second crop demonstrates the repeatability of the carbon farming process, the potential for exponential growth and appeal to both farmers and buyers. Additionally, it also reinforces the ability of farmers, and the agricultural industry to have a real, measurable impact on one of the world’s carbon sinks.
"Our second crop of soil-based carbon credits signifies the enormous growth and potential for farmers to sequester more carbon in the soil while increasing their own profitability, with 75% of the credit revenue going directly back to farmers," says Ron Hovsepian, president and CEO of Indigo Ag. "The verified credits produced by the Carbon by Indigo program represent significant and immediate environmental benefits. We are incredibly excited about the strong demand we are seeing from companies looking to high-quality offsets as part of their climate roadmaps."
The second crop of credits represents more than 110,000 metric tons of carbon dioxide and other greenhouse gas emissions sequestered or abated by farmers. The credits were produced by nearly 430 farmers across 22 U.S. states, including existing and new farmers and new fields in their operations. The second carbon crop demonstrated the program’s growth and durability, as Indigo’s carbon program realized a roughly 5x credit growth from its first crop.
Indigo’s growing network of global partner companies, including many long-term buyers, have committed to purchasing Indigo’s verified agricultural carbon credits in advance of this new carbon crop. Indigo Ag is states that it’s the only company producing verified, registry-issued soil carbon credits at scale, rewarding farmers for adopting sustainable farming practices that benefit the environment and their operations. The Carbon by Indigo program includes removals and abatement of carbon dioxide and other greenhouse gases. The credits are measured, verified and issued under rigorous scientific standards, reportedly making them the highest quality agricultural carbon credits available on the voluntary market. According to the company, the program’s economic and agronomic incentives for farmers establish long term viability for the program.
Carbon by Indigo paid its farmers $30/credit for the first and second carbon crops—a 200% increase over the original guaranteed payment rate. "The economic and agronomic benefits of joining the Carbon by Indigo program made it an easy decision for us," says Kenton Carley, an Illinois corn and soybean farmer. "Carbon by Indigo has allowed us to earn an additional revenue stream from our operations, while continuing to improve soil health for future generations. We're incredibly pleased to see the growth in this program."