Agoro Carbon Makes $15 Million in Payments to U.S. Farmers and Ranchers in First Two Years
Two years post-inception, the company reflects on its impact on soil health and climate-smart agricultural practices across the country
TAMPA, Fla. (June 8, 2023) – Agoro Carbon Alliance, a global business created for farmers and ranchers to earn additional revenue through farming and ranching practice changes that improve soil health, today celebrates the company’s second anniversary by sharing its latest results. In just two years, Agoro Carbon has boosted farmer and rancher incomes, bringing the total to more than $15 million in payments made to farmers and ranchers.
In its first year, Agoro Carbon paid $9 million to farmers and ranchers. In its second year, Agoro Carbon made an additional $6 million in prepayments to farmers and ranchers. Acreage enrollment continues to climb, with more farmers and ranchers signing up year-over-year from 2021 to 2022 and choosing contracts heavily connected to future payments, confirming farmer and rancher trust in the carbon market.
With growers across 24 states currently enrolled in the program, Agoro Carbon estimates that 5 million tons of carbon will be sequestered over the course of 10 years.
With strong new farmer and rancher signups in its second year, Agoro Carbon has paid more to farmers and ranchers than other leading carbon programs on the market in the same two-year time frame. This is due in part to the company’s unique position in the market, with a sole focus on farmer and rancher success. Backed by Yara International, Agoro Carbon is committed to supporting farmers and rancher livelihoods and their journey in the carbon market by enabling them to reap the rewards of carbon farming and ranching, from enhanced soil health to increased resilience to building a new, lucrative source of income.
“In just two years, Agoro Carbon Alliance has seen immense growth and success throughout the United States and we could not have done it without the farmers and ranchers who partner with us to increase the longevity of their operations,” said Agoro Carbon interim CEO, Elliot Formal. “Agoro Carbon is committed to working hand-in-hand with farmers and ranchers every step of the way along their carbon journey, providing them with agronomic support that will result in more sustainable businesses and improving bottom lines. Our program is committed to generating the highest quality soil carbon credits in the market through our robust scientific expertise and collaborations with leading universities.”
One of the most important elements of a successful carbon program is accurately measuring soil organic carbon (SOC), or the amount of carbon stored in the soil. Through scientifically proven modeling, soil sampling design and lab analysis, Agoro Carbon built a robust SOC measurement process that empowers the company to accurately measure carbon stored in the soil before, during and after farmers and ranchers deploy new practice changes like rotational grazing or cover crops. Together with farmers and ranchers, Agoro Carbon estimates they will sequester more than 5 million tons of carbon over the next 10 years.
Brian Miller, a farmer from Spiceland, Indiana, has been working with Agoro Carbon over the last two years.
“I chose Agoro Carbon because they were the first people I talked to that were excited about changes we were going to make on our farm,” said Miller in an interview with Successful Farming. “In 2021, we knew we were going to move to cover crops on every acre, so I knew it was time to join a carbon alliance. I have a really good relationship with Agoro Carbon – I joined in November 2021 and in January 2022 I got my first payment.”
Today marks two years since Agoro Carbon’s inception, and the company aims to build upon its momentum. The U.S. is a key market for carbon sequestration, which is driven by the willingness of American farmers and ranchers to engage in regenerative agriculture practices. By leveraging the company’s knowledgeable agronomists and Grower Success team, farmers and ranchers can be assured that Agoro Carbon will be with them at each step of their carbon journey. From measuring soil organic carbon to developing a customized contract to getting paid for practice changes that will pay dividends to the land, Agoro Carbon makes carbon farming and ranching easy.
Agoro Carbon offers flexible payment options, including carbon prepayments and carbon performance-based payments. The different payment options allow farmers and ranchers to choose how they get paid – either collecting more up front to cover the cost of the practice changes or waiting for carbon performance-based payments that take into account market growth over time. Agoro Carbon continues to see high engagement from farmers and ranchers, a strong indication of the industry’s positive outlook for the future of ag carbon markets.
To calculate carbon earning potential on a piece of row crop or rangeland, please visit AgoroCarbonAlliance.com/Calculate-Your-Carbon-Potential or visit AgoroCarbonAlliance.com to learn more.
About Agoro Carbon Alliance
Agoro Carbon Alliance is creating a new solution to our planet’s carbon challenge that’s grounded in the soil. Our partners are committed to Agoro Carbon’s ambition of decarbonizing farming on a global scale by helping to transform practices on every farm, generating reliable Farm Carbon Credits and certified climate-smart crops.
Guided by transparency, security and collaboration, we create incentive for farmers, buyers, and consumers to choose change from the ground up. Agoro Carbon leverages Yara’s deep agronomic knowledge and credibility to make it possible for every farm to transition to climate-smart farming practices, restoring carbon to the world’s soils, and reversing the effects of climate change. Meet our members and join the journey at AgoroCarbonAlliance.com.