Truterra Announces New Agreement with CoBank for Purchase of CO2 Removals
Truterra, LLC, the sustainability business of Land O’Lakes, Inc., one of America’s largest farmer-owned cooperatives, today announced an agreement with CoBank, one of the largest private providers of credit to the U.S. rural economy, to purchase agricultural carbon dioxide removals. The purchase will support CoBank’s corporate sustainability program and help offset the bank’s Scope 1 and Scope 2 emissions in the 2022 calendar year.
“This purchase is part of our ongoing sustainability journey,” said Steve Wittbecker, Chief Sustainability Officer of CoBank. “We are delighted to be partnering with Truterra in an innovative program that reduces our environmental footprint, while also delivering benefits to farmers.”
“Truterra is excited to collaborate with CoBank to support farmers in their transition to more regenerative management practices,” said Tom Ryan, President, Truterra. “We want to connect the farmers in our network who are already doing incredible environmental work in the field to the companies looking for solutions in their own sustainability journeys.
Working with Truterra helps create and scale sustainable impact in farming and food systems, such as assistance in adopting regenerative management practices including cover crops and no-till that facilitate enhanced carbon removal. Truterra looks beyond individual carbon transactions to capacity building and co-investing with farmers and ag retailers in climate-smart agriculture and regenerative practices that are sustainable for the long term. Through its ag retailer network, Truterra brings together a full ecosystem of support for farmers, including the recently announced sustainability services, which are a comprehensive suite of agronomic and financial resources designed to meet farmers where they are at each stage of their sustainability journey.
Truterra’s 2023 carbon program, one of multiple sustainability offerings, aims to build upon the scale and industry-leading payouts farmers have received since the program was launched in 2021. Truterra’s 2022 carbon program is expected to pay farmers more than $4.5 million total in cash payments for nearly 237,000 tonnes of carbon stored in soils.
The full reach of Land O’Lakes, Inc., including Land O’Lakes Dairy Foods, Purina Animal Nutrition, WinField United and Truterra, touches nearly every corner of America, from the grocery store shelf to about half of America’s harvested acres to having a presence in over 10,000 rural communities across the country. By leveraging this network – including trusted agronomy advisors at 50 participating ag retailers across 17 states – Truterra and its network offers the unique know-how and credibility needed to drive the adoption of regenerative agriculture practices with farmers who know and trust the Land O’Lakes brand.
Subscribe Today For
