Bayer to Pay Farmers for Cutting Emissions

By Maitane Sardon

Bayer AG plans to reward growers in Europe for implementing farming practices that help it sequester carbon in the soil and thus reduce its emissions.

The German pharmaceutical giant said Tuesday that it has launched a decarbonization program in Europe that hinges on getting farmers to cut their emissions. Bayer said the program would help it achieve its goal of reducing field greenhouse-gas emission by 30% in 2030.

The company said it would develop a digital tool to allow farmers to claim monetary rewards if they adopt climate-friendly farming practices such as using cover crops, tillage reduction, crop rotations and precision nitrogen application. It said the tool, which it plans to deliver in the next three years, would be developed using findings from a carbon farming lab where farmers and other participants of its supply chain will jointly test activities and generate learnings.

The tool would be compliant with current data-privacy standards and would be simple to operate for every farmer, Bayer said.

Bayer didn't spell out how much money the farmers will receive.

Write to Maitane Sardon at [e-mail]

(END) Dow Jones Newswires

June 29, 2021 09:53 ET (13:53 GMT)

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