Dairy farmers bag over $18,000 on average from Truterra’s carbon program
The program enables farmers to get rewarded for their stewardship practices and includes opportunities for those who are at the beginning of their sustainability journey as well as for those who had already started to improve soil health. The 2022 program offered two pathways, which paid either $20 per ton of carbon removed due to practice changes on eligible land for up to five years back; or $2 per acre for eligible practice change during the year, with no long-term commitment.
Truterra reported that around 262,000 metric tons of carbon have been stored during the 2022 crop year, leading the organization to pay out more than $5.1m. A total of 273 farmers have taken part, receiving more than $18,000 on average. This surpasses the estimations made by the company earlier this year, when it predicted more than $4.5m will be paid out for 237,000 tons of sequestered carbon.
For the past two years, Truterra has paid more than $9m to farmers for storing more than 462,000 metric tons of carbon.
Tom Ryan, president of Truterra, commented: “Farmers are fast realizing that Truterra's farmer-friendly approach aims to strengthen the connection between sustainability and profitability. By working with and through farmer's trusted advisor, the carbon program has continued to achieve great success in its second year, and we look forward to continuing to meet farmers where they are in their sustainability journey in order to help them make the best agronomic, economic and environmental decisions for their farms.”
For 2023, Truterra launched additional services designed to incentivize its farmers to improve soil health, including access to a free soil health assessment and plan. Meanwhile, during the 2023 carbon program, farmers can earn from $2 per acre to up to $30 per ton of carbon across the different sub-programs available.