Basf, a German company and world leader in the chemical area, is going to establish a program that allows farmers to track and obtain financial returns from practices that reduce CO2 emissions, contributing to the fight against climate change. According to a company statement, the Global Carbon Agriculture Program, which will be launched in phases from 2022, will support the commitment of BASF’s Agriculture Solutions Division to reduce by 30% the carbon footprint per ton of crop produced by 2030 , for wheat, soy, rice, canola and corn crops. It is estimated that agriculture is responsible for around 20% of global CO2 emissions.
The program will help farmers reduce emissions from agriculture and sequester more carbon in the soil. In addition, BASF will create a global framework to enable farmers to generate carbon credits through recognized certifiers earning additional revenue from their carbon reduction efforts.
The company highlights that it intends to expand, in 2022, the existing cooperation with customers and value chains and actively seek new partnerships in the sector with a focus on carbon management.
BASF’s Agricultural Solutions Division has recently started the first multi-year field trials. These trials are focused on sustainable agricultural practices, soil carbon sequestration and farm-level emission reductions.
Basf Agriculture Solutions Division Global President Vincent Gros said in the note that “the launch of our Global Low Carbon Agriculture Program is a testament to our strong commitment to sustainable agriculture. This will allow farmers around the world to improve the health of their soils, reduce emissions, sequester carbon and – at the same time – be rewarded for their efforts to combat climate change.”
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