Partnership to monetize carbon reduction

Regenagri has 30,000 hectares of land across 14,000 farms worldwide, which have signed up to the initiative, and this number is expected to expand significantly as the vertical farming market grows over the next several years.

Amplified by the pandemic and climate change issues, the global vertical farming market is projected to reach $12.77 billion by 2026, growing at a CAGR of 24.6% from 2019 to 2026, according to Allied Market Research. Vertical farming is an innovative approach to producing food and plants using indoor facilities like a used warehouse or shipping container without relying on favorable weather, high water usage, skilled labor, and high soil fertility. Moreover, it has no effects of external environment factors such as diseases, pests, or predator attacks. 

Users of the new digital hub can access verifications of GHG emissions and CO2, which are done under ISO 14064-3 accreditation, allowing users to generate carbon credits. In this way, textile growers can gain access to an additional source of funding, by selling the credits on the green finance market or using them in offsetting projects along their supply chain.

Additionally, the tool, which is open to corporate members, makes it easier for brands to see scores for biodiversity, carbon and water usage at multiple farms and establish which farms are using regenerative methods.

Harry Farnsworth, sustainable agriculture projects lead at Regenagri, said, "The new version of our digital hub in collaboration with Cool Farming Alliance brings in the carbon capability on the platform. We're at the stage of digital and technical development to help farms understand their environmental impact and we want to make it as easy as possible for farms and brands to access GHG emissions and CO2. Farmers don't want to spend lots of time inputting data."

Photo Credit: Regenagri

Source: Environment Energy Leader

Source: Environmental Energy Leader