It has been a busy time in the carbon market space for the livestock and agriculture industries. Earlier this month, the SEC finalized its carbon reporting rule for registrants, but dialed back from requiring companies report on supply-chain, or scope 3 greenhouse gas (GHG) emissions.  Meanwhile, Athian (athian.ai) announced the first sale of verified carbon credits to Dairy Farmers of America (DFA), the largest U.S. milk marketing cooperative.  Known as “insetting,” DFAs supply chain purchase from a dairy in Texas utilized Athian's protocol to generate carbon credits via feed management reduction of enteric methane emissions.  This coupled with recent favorable developments at FDA to speed feed additives targeting enteric emissions to market, signal great opportunities for agriculture to lead the way in voluntary carbon market development.  For its part, DFA has announced an aggressive goal of GHG emission reduction across its supply chain of 30% by 2030.

Michael Best is participating in a Climate Smart Commodity project to establish the framework for the expansion of such market opportunities for producers.  Reach out if you'd like to learn more or have questions.