CIBO Unlocks the Carbon Market for Nearly Half a Million American Farmers
CAMBRIDGE, Mass., Oct. 27, 2020 /PRNewswire/ -- CIBO, the technology company that delivers decision-ready insights on all U.S. cropland, today announced the launch of CIBO Impact. The new capabilities are designed to help farmers generate and sell carbon credits from their regenerative farming practices on an annual basis. It also provides a marketplace for organizations and individuals wanting to offset their carbon footprint by purchasing credits directly from American farmers.
CIBO Impact enables new possibilities for scaling and accelerating regenerative agriculture by making it simple for farmers to enroll their land and quantify carbon credits arising from sustainable farming practices. CIBO Impact automates the verification of practices and credits using CIBO's remote sensing and computer vision. Once practices are verified, the credits are registered on the CIBO Impact marketplace where buyers can purchase carbon credits directly from the farmer. Carbon credits are calculated on an annual basis for practices that are implemented over the course of a single growing season—beginning with the planting of a cover crop in the fall and ending with the harvesting of a primary cash crop the following fall.
"Sustainable agricultural practices are environmentally and economically aligned in the long-term, but adoption has been relatively slow. CIBO is delivering a new approach to help farmers on this journey by enabling them to easily generate near term, annual income for regenerative practices like cover-cropping and reduced tillage," said Daniel Ryan, chief executive officer at CIBO Technologies. "CIBO Impact has the potential to help nearly half a million farmers, starting today."
CIBO Technologies continues to provide universal access to field-level data at a national scale, including productivity, stability, valuation, field history, and now, Regenerative Potential™—the first of its kind sustainability metric that quantifies the land's ability to sequester carbon and offset emissions under regenerative management. With this breakthrough metric, farmers and stakeholders can better understand the economic and environmental impact of adopting sustainable practices. CIBO Impact also provides the first field-level "what-if" calculators that enable users to see the carbon footprint or yield impact of various practices for specific fields.
"I'm a fifth generation farmer, and I'm looking ahead so if my kids want to be a part of this, they can. Doing the right thing supersedes everything else," said Kyle Mehmen, general manager of MBS Family Farms in Iowa. "In the early 1990s, my dad got the first no-till soybean drill in our area, and for the past decade we've been experimenting and testing a variety of cover crops. In terms of carbon markets, what a lot of farmers don't have is the time or money to go through a lot of hoops to participate in a program. CIBO Impact provides a simple and clear process from enrollment to verification to credit sale."
The CIBO Impact marketplace also enables parties interested in supporting sustainable practices to connect with farmers on related offerings. Examples include lenders, retailers, and input companies that have offerings targeted towards regenerative farming. Organizations with public carbon and climate commitments can monitor their agricultural supply chain portfolios as well as support them directly through the purchase of carbon credits from those specific farms and fields.
The CIBO Impact platform is free for farmers and there is no cost to enroll. At launch, CIBO has verified carbon credits from regenerative agriculture available for purchase on the platform. Any company and investor interested in buying carbon credits can visit CIBOtechnologies.com/getcarbon. Visitors are able to easily see all participating farms and fields in CIBO Impact maps, and quickly identify specific farms in which they're interested as well see instantly how many carbon credits are being produced across the country. Registration is free at CIBO Impact, https://www.cibotechnologies.com/
CIBO was founded by Flagship Pioneering in 2015, with the big idea of applying advanced science and technology to generate a deep understanding of land and agricultural systems at scale. Since then, the company has delivered on this vision by creating a platform that combines familiar, map-based experiences with scaled information layers. Each information layer unlocks unique insights and tremendous value for all stakeholders in the agricultural industry including owners, operators, lenders, brokers, supply-chains and anyone else that cares about land. The company's solution, CIBO Impact, is focused on driving and accelerating the transition to sustainable agriculture by providing an understanding of land and its regenerative potential. This connection between proven, science-based technology and the management decisions farmers make every season enables farmers to quantify and sell carbon credits that are generated from their regenerative practices.