26 Feb Ecosystem Services Market Consortium Formed
Ten private-sector companies and nonprofit organizations have announced their intent to join together to form the Ecosystem Services Market Consortium (ESMC) to advance the development of a market-based approach to promoting land stewardship to build healthy soils, soil carbon sequestration, and water conservation on the globe’s working lands. The ESMC’s Founding Circle is comprised of ADM, Bunge, Cargill, General Mills, Indigo Agriculture, McDonald’s USA, Noble Research Institute, LLC, Soil Health Institute, and The Nature Conservancy. The launch of ESMC builds on the earlier formation of the Ecosystem Services Market Program, a product of more than 20 months of industry and sector leaders developing resources and information to establish a successful ecosystems market. The planned market offers the singular focus of enabling and encouraging farmers and ranchers to adopt and sustain conservation management practices to improve soil health, reduce GHG emissions, and improve related water quality and reduce water use. ESMC will drive the coordinated development of advanced analytical tools and technologies to cost-effectively measure and monitor changes in sustainability outcomes and contribute income to farmers and ranchers through insetting and offsetting supply-chain strategies and the sale of ecosystem services credits.