- Microsoft purchased 40,000 carbon credits verified and issued
in accordance with requirements of the Climate Action Reserve's
Soil Enrichment Protocol
- Largest ever single delivery of credits from Indigo Ag to an
individual buyer
BOSTON, June 20,
2024 /PRNewswire/ -- Indigo Ag today announced
that Microsoft has agreed to purchase 40,000 agricultural
soil-based carbon credits from the company's third carbon crop,
issued in February, representing the largest number of credits ever
delivered by Indigo Ag to an individual buyer. These credits are
verified and issued in accordance with the requirements of the Soil
Enrichment Protocol of the Climate Action Reserve, one of the
world's most trusted independent carbon registries.
Microsoft selected Indigo Ag's carbon program to introduce soil
carbon removals in its climate action portfolio to help the company
to progress toward its 2030 goal to become carbon negative. The
agreement underscores demand for robust, science-backed agriculture
soil-based credits and the valuable role they can play in climate
action, as well as reflects the increasing maturity of the
voluntary carbon market.
Indigo Ag's Carbon program is underpinned by the company's
scientifically peer-reviewed measurement, reporting and
verification (MRV) capabilities which inform the robustness,
integrity and durability of credits, and enables growers to realize
the value of adopting and sustaining new practices that generate
them.
Indigo Ag continues to deploy its MRV capabilities, beyond its
carbon program, to enable companies in the agri-food value chain to
reduce their Scope 3 emissions and to produce low carbon intensity
crop feedstocks for biofuels. To date, Indigo's Sustainability
Solutions have reduced and removed over 340 thousand tons of GHG
emissions and saved over 19 billion gallons of water used in
agriculturei.
Commenting on today's announcement, Dean
Banks, CEO at Indigo Ag, said: "Today's announcement is a
major milestone for Indigo's Carbon program and our increasing
range of ag-based sustainability solutions. Microsoft is a leader
in corporate climate action, a highly influential player in carbon
removals and shares our commitment to support the transition to a
more resilient and sustainable agriculture system."
"Our program's selection by Microsoft is a significant win for
science-based, high-integrity agricultural soil carbon credits. We
have uniquely and substantively invested in the scientific rigor of
our program since 2018 to meet the strict standards of premier
crediting programs like the Climate Action Reserve. We are working
with our partners to enable growers to benefit from valuable,
durable new revenue streams that reward them for their efforts in
changing practices."
Brian Marrs, Senior Director of
Energy and Carbon Removal at Microsoft said: "Soil organic carbon
restoration is vital to the future of food systems, economies and
climate change mitigation. We are pleased to collaborate with
Indigo Ag to advance both the adoption of regenerative agriculture
practices and the soil organic carbon scientific evidence
base."
For more information, visit Indigo Ag's Buying Ag Carbon Credits
page.
About Indigo Ag
Indigo Ag is the innovative leader and trusted partner in
sustainable agriculture and biological solutions. Powered by
science and technology, Indigo helps farmers and agribusinesses
optimize today's yields and profitability, while nourishing the
soil for better tomorrows.
The company's biotrinsic® natural microbial solutions help
farmers maximize crop performance by empowering plants to combat
environmental and biological stresses and improve nutrient access.
Indigo's Sustainability solutions include its carbon and
sustainable crop programs that enable farmers to choose how to best
profit from their sustainable practices while promoting practices
that help land keep its value for future generations. Indigo is the
largest and fastest growing issuer of nature-based, registry issued
agricultural soil carbon credits in the world, offering both high
quality agricultural carbon credits and scope 3 emissions
reductions at scale to help corporations reach their sustainability
goals. The company's state-of-the-art digital software facilitates
greater efficiency, accuracy and profitability for crop
transactions.
Established in 2013 and operating in 14 countries around the
world, Indigo Ag turns on-the-farm sustainable practice into
value for farmers, agribusinesses, and corporations, creating a
world with thriving farmers and environmentally prosperous
companies.
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i Gross carbon credits (tonnes
of CO2e) generated by Carbon by Indigo over three monitoring report
periods under the Climate Action Reserve's Soil Enrichment
Protocol CAR1459 and prior to buffer pool
holdbacks required by the CAR. Also includes emission
reductions quantified and reported through Indigo's sustainable
sourcing programs. Water savings are quantified through Indigo's
sustainable sourcing programs where applicable.
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SOURCE Indigo Ag