Partnership to Offer Carbon Credits on Managed Farmland
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Payments for Ecosystem Services
The land-management firm Peoples Company is partnering with the technology company CIBO to offer carbon credits on 20,000 acres of managed land. According to Iowa Ag Connection, Peoples Company has committed to initially enroll the acreage in the CIBO Impact platform, creating potentially $400,000 of new revenue for owners and operators in the first year when all credits are verified and sold. Through the program, customers can purchase credits directly from the voluntary CIBO marketplace, and farmers can receive incentive payments. CIBO uses ecosystem simulation and modeling to quantify the reduction of greenhouse gas emissions and carbon sequestration, and uses advanced computer vision to verify practices. Covered practices currently include nitrogen application, tillage, irrigation, cash-crop identification, and cover-crop emergence.