Agreena, which reportedly offers the largest soil carbon platform in Europe, has announced the results of its second harvest year, as well as the second annual early payout to participating farmers.
The number of hectares enrolled in the scheme grew ten times when compared to the previous year, and farmer participation is said to have increased four times. Agreena states that it pays the largest incentives to growers, at €32 to €36 per anticipated carbon certificate generated depending on the region. This has increased 45% year-on-year.
The company is leveraging the voluntary carbon market (VCM) to open new revenue streams to farmers working in climate-friendly ways. This is resonating with growers, with 20% of the year-on-year hectare growth being from growers already enrolled in the scheme.
“Agreena is introducing a new category of carbon certificates into the market and it will take time to build and scale, but farmers cannot wait – they need a reliable and liquid payment to help cover their transition efforts,” said Simon Haldrup, CEO of Agreena. “That is why Agreena takes a calculated risk and pays farmers each harvest year. Still, carbon certificates are just one part of the solution and a mix of incentives is needed to rapidly transition the world’s farmers to regenerative practices.”
Farmers and the companies that purchase carbon certificates are often on different timelines, so the company’s early payout scheme can help to financially bridge this gap. Prices paid are based on the market at the time, and farmers can decide how to use their certificates.
More recently the company has developed a corporate unit to oversee sales, working with certificate buyers to structure and scale portfolios.
“Our first vintage of high quality carbon certificates originates from farmers in Central Europe and has just been made available for a limited quantity presale,” said Frederik Aagaard, Agreena’s director of carbon markets. “We’re delighted to be able to facilitate the participation of companies in helping finance this journey for farmers.”
Farmers have until the 30th of June to enter for this year’s harvest and can calculate their potential earnings on the Agreena website.