Key Takeaways:
- Locus Agriculture (Locus AG) joins the Reykjavik Protocol, an international initiative for responsible, nature-based environmental credit solutions.
- The Reykjavik Protocol seeks to overcome structural risks and barriers hindering the growth of the nature-based environmental credit industry.
- Carbon dioxide removal (CDR) solutions, such as those promoted by Locus AG, are crucial in addressing climate change and biodiversity loss.
Solon, Ohio, September 21, 2023: In a significant development, Locus Agriculture (Locus AG) has announced its participation in the groundbreaking Reykjavik Protocol, a global initiative aimed at promoting responsible and nature-based environmental credit solutions. Locus AG is one of 40 companies worldwide that have joined this initiative, which aims to address structural risks and barriers to scaling the nature-based environmental credit industry.
Chad Pawlak, CEO of Locus AG, stated, “By joining other like-minded carbon removal companies in the Reykjavik Protocol, we can enhance the credibility and adoption of nature-based environmental credits—a critical tool for addressing climate change. Nature-based crediting is both tangible and impactful. This protocol will help ensure it has the highest level of integrity, reporting, and scalability.”
The Urgent Need for Carbon Dioxide Removal Solutions
Carbon dioxide removal (CDR) solutions are increasingly recognized as vital tools in the battle against climate change, biodiversity loss, and ecosystem degradation. Reports from the Intergovernmental Panel on Climate Change (IPCC) have emphasized the urgent need for significant carbon emissions reductions by 2050 to mitigate global warming.
Nature-deployed carbon removal projects offer some of the most scalable, permanent, and cost-effective climate solutions available today. However, these projects are subject to rigorous scrutiny due to their critical role in addressing environmental challenges.
A Blueprint for Environmental Credit Suppliers
The Reykjavik Protocol aims to instill confidence and accelerate the growth of the market for nature-deployed environmental credits by establishing a uniform set of twelve principles. These principles provide a framework for environmental credit suppliers to effectively develop, manage, finance, and scale nature-based projects. The Protocol aims to address the following key issues:
- Ineffective risk transfer that has hampered environmental markets.
- The need to improve the quality and standardization of generated assets.
- The development of market structures required to scale these solutions effectively.
As a signatory of the Reykjavik Protocol, Locus AG commits to implementing all twelve principles within its CarbonNOW® carbon farming program over the next two years. The CarbonNOW program has already paid out nearly $4 million to U.S. farmers who have adopted regenerative agriculture practices, contributing to soil carbon storage.
A Commitment to Transparency and Responsibility
Locus AG’s commitment to implementing the Reykjavik Protocol’s principles reflects the company’s dedication to advancing transparency and responsibility in the agricultural-based carbon removal industry. The company advocates for market guidelines that ensure the quality and legitimacy of environmental carbon removal programs.
Pawlak emphasized, “Implementing the twelve principles of the Reykjavik Protocol within our CarbonNOW carbon farming program leaves no room for ambiguity in our mission. The guidelines not only validate but also set the gold standard for legitimacy in environmental carbon removal programs. This commitment is a blueprint for a sustainable future that we wholeheartedly embrace and stand by.”
Standardization for a Sustainable Future
The Reykjavik Protocol’s standardized set of principles is expected to enhance the scalability and effectiveness of nature-based carbon removal programs, such as CarbonNOW. These programs play a crucial role in sequestering carbon and benefitting both people and the planet.
For more information about the Reykjavik Protocol and to read the Protocol in detail, visit Reykjavik Protocol. To learn more about Locus AG and the CarbonNOW carbon farming program, visit Locus AG.
About Locus Agriculture®
Locus Agriculture (Locus AG) is a leading agricultural biological company that combines essential inputs with data-driven guidance to help farmers achieve more productive and sustainable crops. Their globally recognized CarbonNOW carbon farming program empowers farmers to boost yields, profits, and carbon sequestration while reducing operating costs and environmental impact. Locus AG’s core scientific capabilities come from its parent company, Locus Fermentation Solutions (Locus FS), an Ohio-based green technology powerhouse. This unique combination of expertise, partnerships, and processes makes Locus AG an industry leader.
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