Expanded eligibility is long-awaited for the ag industry and a strategic business step toward meeting the needs of food and ag companies seeking to reduce scope 3 emissions
Arden Hills, Minn., Jan. 9, 2024 – Truterra, LLC, a leading agricultural sustainability business that offers consultation, tools and solutions to help improve the environmental impact of agricultural production, is announcing programs for farmers to enroll in for 2024, with several new developments.
Among the program options for enrollment is Truterra’s leading carbon program, which in just two years paid farmers more than $9 million for more than 462,000 metric tons of carbon benefits created through farming practices such as planting cover crops or reducing how often fields are tilled. For the first time in 2024, Truterra is expanding eligibility of its carbon program to include qualified long-term adopters of conservation practices, specifically for qualified farmers who have adopted conservation practices like cover crops or reduced tillage before crop year 2021.
Bringing long-term adopters into the fold is a strategic step toward meeting the needs of companies seeking to reduce scope 3 emissions from within the food and ag value chain. According to McKinsey1 and Company, sales of consumer goods products made with sustainability goals are growing 36% faster than those made without them, which is why Truterra is sharpening its focus on how it can help play a role in the solution for companies to help decarbonize their supply chains and meet their emissions-based goals. These long-term adopters potentially have favorable greenhouse gas emissions and storage profiles which may benefit companies in the food and ag value chain – and the program this year will help to establish a baseline and understand the opportunity.
“The expansion of eligibility for qualified farmers is something we’re proud to offer and is another step forward in our mission to meet farmers wherever they are in their sustainability journey,” said Truterra President Jamie Leifker. “Truterra is committed to working with ag retailers to maximize their relationships with farmers, as they are often the most trusted advisor. We will continue to expand our ag retail network and together lead the way with innovative solutions to position farmers to increase their productivity and profitability while working to improve the long-term environmental sustainability of their operations.”
Enrollment for Truterra’s 2024 sustainability programs is open now. Interested farmers can visit truterraag.com/enroll to learn more and explore eligibility.
2024 Program Details:
Carbon Program
The Truterra® carbon program can help eligible farmers offset some of the technical and financial costs associated with the transition to conservation agronomy practices and potentially reward them for the impact of their services.
Eligible farmers can earn up to $30/metric ton of carbon stored with a minimum of $2/acre as a result of making certain practice changes in crop year 2024 or earlier.
Open to farmers with corn, soybeans, wheat or cotton in rotation in eligible states.
USDA Financial Assistance Program
Supports and rewards eligible farmers for transitioning to new qualifying conservation agronomy practices on their fields.
Available on fields with corn, cotton, soybeans, or wheat in crop year 2024 that are less than or equal to 160 acres.
Farmers can earn up to $25/acre for strip/no-till, $55/acre for cover crop addition, or $80/acre for both tillage/cover crops
Open to farmers in all states except for AK, HI, MA, NH, NM, VT and RI
Nitrogen Management Program
Rewards eligible farmers for improving nitrogen management practices on corn fields (with the goal of reducing emissions)
Farmers can earn up to $5/acre for reducing applied nitrogen by at least 20 lbs./acre and/or using an approved enhanced efficiency fertilizer on corn fields
Three years of historic corn rotational data is required
Open to farmers in IL, IN, OH and TN
Cedar River Regional Conservation Partnership Program
Designed to help improve drinking water quality, reduce flood risk and improve wildlife habitat in Iowa’s Cedar River Watershed
Eligible farmers may qualify for cost-share incentives to add conservation practices like cover crops, saturated buffers, no-till/strip till, wetland creation, enhancement, or restoration, bioreactors or prairie strips and related practices.
1 https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/consumers-care-about-sustainability-and-back-it-up-with-their-wallets Exhibit 1: 6.4/4.7 = 1.36
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About Truterra, LLC
Truterra is a leading sustainability solutions provider, advancing and connecting sustainability efforts throughout the food system at scale – from farmers to ag retailers to value chain collaborators including food and fiber companies. Truterra positions farmers for success by providing them tools and resources to establish a stewardship baseline, track progress on every field they farm, access conservation resources, and prepare for ecosystem services market opportunities. The Truterra network brings together the best in agricultural technology and precision conservation to drive sustainability across the food system, feeding people, safeguarding the planet, and supporting farmer livelihoods. Truterra was launched in 2016 by Land O’Lakes, Inc., a member-owned cooperative that spans the spectrum from agricultural production to consumer foods. To learn more, visit www.TruterraAg.com.
Media Contacts:
Katie McElrath
kmcelrath@landolakes.com
Charlie Hannema
918.710.5055
channema@cgagroup.com