BOSTON, June 17, 2024 – In a significant deal, Microsoft has acquired 40,000 carbon credits from Indigo Ag’s third carbon crop, issued in February. This acquisition represents the largest single purchase of credits by Indigo Ag for a single buyer. These credits are certified and issued following the Climate Action Reserve’s Soil Enrichment Protocol, a globally recognized independent carbon registry.
Microsoft has integrated Indigo Ag’s carbon program into its climate initiatives to move closer to its lofty 2030 objective of becoming carbon negative. This deal highlights the growing demand for credible, science-backed carbon credits from agricultural soil and their essential part in combating climate change. It also showcases the increasing sophistication of the voluntary carbon market.
Indigo Ag’s Carbon program is built on the company’s scientifically validated measurement, reporting, and verification (MRV) abilities. These abilities ensure the credibility, reliability, and longevity of the credits, enabling farmers to gain from adopting and maintaining new practices that produce them.
Beyond its carbon program, Indigo Ag is applying its MRV skills to assist companies within the agricultural food value chain in reducing their Scope 3 emissions and creating low carbon intensity crop feedstocks for biofuels. To date, Indigo’s Sustainability Solutions have led to the reduction and elimination of over 340,000 tons of greenhouse gas emissions and conserved over 19 billion gallons of water used in farming.
Dean Banks, CEO of Indigo Ag, commented on the deal: “Today’s announcement marks a significant milestone for Indigo’s Carbon program and our expanding portfolio of agricultural sustainability solutions. Microsoft is at the forefront of corporate climate efforts, a key player in carbon removal, and shares our dedication to supporting the shift towards a more resilient and sustainable agricultural system.”
“Our program’s selection by Microsoft is a major victory for science-based, high-quality agricultural soil carbon credits. We have made a unique and substantial investment in the scientific rigor of our program since 2018 to meet the stringent criteria of leading crediting programs like the Climate Action Reserve. We are collaborating with our partners to enable farmers to benefit from valuable, lasting new income opportunities that reward their efforts in adopting new practices.”
Brian Marrs, Senior Director of Energy and Carbon Removal at Microsoft, added: “The restoration of soil organic carbon is crucial for the future of food systems, economies, and the fight against climate change. We are delighted to work with Indigo Ag to promote the adoption of regenerative agriculture practices and to build a stronger scientific evidence base for soil organic carbon.”
This historic deal highlights the potential of carbon removal from soil in corporate climate strategies and the vital importance of innovative agricultural methods in addressing climate change.