AgTech Regen Network Announces Historic Carbon Credit Sale To Microsoft in Australia
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Agtech start-up Regen Network announces historic sale of soil carbon credits to Microsoft, one of the largest soil carbon credit issuances ever in Australia. These soil carbon credits, known as CarbonPlus Grassland credits, help Microsoft meet its climate goals and reward Australian land stewards for sequestering carbon and ecological stewardship of their ranch lands.
Regen Network’s CarbonPlus Grassland credits measure carbon sequestration and a suite of other co-benefits, such as ecosystem health, animal welfare, and soil health. As part of the carbon credit development, Regen Network has pioneered the monitoring and measuring of soil organic carbon via remote sensing allowing for significant reductions in monitoring costs while still maintaining a high level of scientific rigor and measurement accuracy.
A year ago, Microsoft announced its commitment to be carbon negative by 2030, and by 2050 to remove from the environment all the carbon the company has emitted either directly or by electrical consumption since it was founded in 1975.
The first vintages of Regen Network’s CarbonPlus Grassland credits are issued to Wilmot Cattle Co (WCC), managing two cattle ranches located in New South Wales, Australia through project originator Impact Ag, which works with WCC to develop natural capital opportunities. These carbon credit vintages not only represent a significant issuance of agricultural carbon credits to-date in Australia, but also highlight the importance of livestock managed grazing to large-scale ecological regeneration.
Managed grazing practices can reverse land degradation, enhance net carbon sequestration, and improve soil and vegetation quality. Wilmot is exemplary of what is possible, increasing soil organic carbon concentration through rotational grazing to up to 4.5%.
Regen Network CEO Christian Shearer said, “Our work with Impact Ag and Wilmot Cattle Co makes us more hopeful than ever that agricultural and nature-based solutions to climate change are not only real, but have the potential to rapidly sequester carbon and build resiliency into our food systems. The scale at which Microsoft is purchasing carbon credits should give us all hope that business can and will be a catalyst for change. “
Toby Grogan, Natural Capital Manager at Impact Ag shared, “We believe agriculture can address some of the current global environment and climate challenges that will impact future generations. Through Regen Network, Wilmot Cattle Co. is demonstrating how farmers can be rewarded for ecosystem services and in doing so drive change at the scale and speed required.”
Elizabeth Willmott, carbon program manager at Microsoft added, “Microsoft is pleased to select Regen Network’s carbon credit product to help meet our climate goals. Regen Network’s carbon credits rooted in soil organic carbon sequestration backed by technologically-enabled measurement are an exciting advancement in carbon credit markets.”
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