Massachusetts-based agricultural tech company Indigo Ag made its second carbon credits payment to farmers in December, doubling initial payments to farmers in September 2021.
The company completed its second crop of more than 110,000 carbon credits generated from regenerative agriculture practices, representing a fivefold increase compared to its first crop.
The credits were issued by the Climate Action Reserve, one of the world’s most trusted cabon registries. Farmers who generated the credits were paid $30 per credit, double the amount paid out to farmers in September 2021.
According to the company’s own claims, its Carbon by Indigo program is the world’s largest of its kind in terms of acreage and the first to generate high-quality, registry-issued “registry-issued agricultural carbon credits at market scale.”
And indeed, the second crop does prove the repeatability of the practice and serves as evidence that carbon credits from agriculture and farming can be scaled to the point where it appeals to both buyers and farmers alike.
In fact, the company believes the carbon market will reach the size of $50 billion by the end of the decade.
“It also reinforces the ability of farmers, and the agriculture industry broadly, to have a real, measurable, and durable impact on one of the world’s largest carbon sinks,” Indigo Ag said in a statement.
The credits were generated by close to 430 farmers across the United States.