FBN’s Gradable to Support First Round of Partnerships for Climate-Smart Commodities
FBN®’s industry-leading carbon scoring tech platform, Gradable®, will support two major projects under the first round of the Partnerships for Climate-Smart Commodities funding opportunity announced recently by Agriculture Secretary Tom Vilsack. This is part of a $2.8 billion program to expand markets for climate-smart commodities.
Gradable will serve as the Measuring, Monitoring, Reporting and Verifying (MMRV) technology for an up to $90M grant awarded to Archer Daniels Midland (ADM) for quantifying verifiable greenhouse gas impacts of Climate-Smart Commodities and decarbonizing the agriculture supply chain.
As well, FBN will serve as a financial innovation partner to Field To Market on their up to $70M grant for the development of sustainable financing programs for farmers. “FBN is thrilled to partner with both ADM and Field to Market on their innovative and ambitious programs which will reward thousands of farmers for adopting sustainable growing practices,” said FBN Head of Sustainable Business Steele Lorenz.
“Supporting these projects through both FBN’s technology that establishes a verifiable carbon accounting system for food and fuel and FBN’s sustainable financing expertise will enable the development of markets for climate-smart commodities while decarbonizing agriculture–a win-win for farmers and the environment.”
Agriculture Secretary Tom Vilsack announced that these initial projects will expand markets to:
Leverage the greenhouse gas benefits of climate-smart commodity production
Provide direct, meaningful benefits to production agriculture, including for small and underserved producers
More than 450 project proposals were submitted by applicants in the first funding pool. The USDA increased its investment from the initial $1 billion Secretary Vilsack announced earlier this year based on the strength of these project proposals.
"As climate-smart agricultural policy and markets develop, it is critical that the concerns and perspectives of the farmer remain at the forefront,” said FBN Head of Government Relations Ken Baric.
“I am encouraged that USDA is endeavoring to do just that, and we will work aggressively to see that any future efforts from Congress, States, Regulators, and the private sector take a farmer first approach."
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