CIBO, Peoples Company partner for carbon credits on farmland
There is another team of players in the ever-growing carbon credit business.
CIBO and Peoples Company have developed a partnership to offer carbon credits on more than 20,000 acres of land managed by Peoples, which makes the Iowa-based firm the nation’s first land management company to offer carbon credits. CIBO is a technology company that delivers decision-ready insights on all U.S. cropland.
Steve Bruere, CEO at Peoples Company, says long-term benefits of sustainable and regenerative agriculture are evident.
“What is missing is a way to create immediate, new incentives for sustainable management. As the leading farmland management firm in the U.S., we are uniquely suited to combine our expertise and reach with CIBO Impact to provide carbon credit incentives.”
Through the partnership, Peoples Company has committed to initially enroll over 20,000 managed acres in the CIBO Impact platform, creating potentially $400,000 of new revenue for owners and operators in the first year when all credits are verified and sold. Additionally, Peoples Company and CIBO are working together to create partial incentive prepayments for enrolled land. Under the partnership, for the first time, growers and owners will be eligible to receive immediate incentive payments against expected future sales of carbon credits.
“Partnering with Peoples Company makes sense, for farmers and for sustainable agriculture,” says Daniel Ryan, CEO at CIBO Technologies. “Peoples Company is as forward-thinking about sustainable farmland management as we are about delivering enabling technology. This partnership charts a pathway that others should follow.”
CIBO Impact promises a streamlined process for enrolling land, quantifying the carbon impact of various practices, and remotely verifying practices to generate and sell carbon credits – all with minimal effort on the part of farmers. CIBO uses ecosystem simulation and modeling to quantify the reduction of greenhouse gas emissions and carbon sequestration, and uses advanced computer vision to verify practices. Covered practices currently include nitrogen application, tillage, irrigation, cash-crop identification, and cover-crop emergence.
Regenerative management decisions are made annually by growers and owners, and create real, permanent reductions in greenhouse gas emission and sequestration of atmospheric carbon within our soil systems. CIBO Impact allows Peoples to have insights for individual fields and manage and monitor entire portfolios in one place: yield predictions, in-field variability, historical and current management practices, carbon credits, and Regenerative Potential.