North American registry approves Canadian green farming method
Quantum Commodity Intelligence – North America-based blockchain registry Pure Sky has approved a methodology for generating carbon credits from regenerative agriculture developed by Canada-based project developer Carbon RX, the latter's first protocol to gain approval.
The RX Regenerative Agriculture Protocol establishes a methodology for creating carbon offsets from food production with a particular focus on farms based in Western Canada.
"We wanted to design something that reflected the Canadian farming system with deliberate metrics on nitrogen use, fuel efficiency, crop yield, and a series of other parameters that takes into account the way a modern farm looks at sustainability," said Tristan Skolrud, an associate professor at the University of Saskatchewan's College of Agriculture and Bioresources who worked with Carbon RX on developing the protocol.
"Canadian companies looking to procure carbon credits from local farms now have a dedicated platform to champion positive agricultural practices without the need to explore international markets for carbon offsets," said Marty Seymour, chief of Carbon RX.
Regenerative agriculture combines techniques such as greater use of cover crops and crop rotation, elimination or decrease of tillage to enable more carbon to be stored in the ground, reducing the use of artificial fertilizers and using greener grazing for livestock.
Pure Sky, one of several "incubator" projects for US start-up BlueSphere Ventures, is a Decentralized Autonomous Organization (DAO), which has a company structure that operates with no central governing body but instead unites all stakeholders through a common, forward-looking goal.
The Pure Sky DAO is controlled by holders of their Pure Tokens or PRTs, whose holders are incentivized via a profit sharing that "keeps member interests in focus", according to the registry's website.
"Each PRT holder will formally vote on various decisions for the organization, split into various subcommittees," it said.
The Carbon RX Regenerative Agriculture Protocol was approved following an "extensive review period and endorsement by the Pure Sky registry's membership", the statement said.
Currently, Pure Sky lists one 'proposed' project "Carbon RX Canadian Prairie Cropland Project" that will use regenerative agriculture practices in Western Canada on "Treat Four Territory" – referring to First Nations land in southern Saskatchewan and parts of Manitoba and Alberta.
The project aims to develop carbon reduction and removal practices through fertilizer, fuel, tree preservation and cropping practices.
Each carbon credit project proposed and considered by Pure Sky will be peer-reviewed and certified by an open committee of industry experts, the registry says.
Carbon RX is also developing a forestry methodology and is working with Delta Clean Tech on projects for the hydrocarbon sector.
"Our efforts on the forestry side have progressed well. We have had many discussions with potential monitoring solution providers which will bolster the strength of a protocol. However, as we near the completion of our Regen Ag project, our forestry efforts have become priority number two," said Carson Sinclair, Carbon RX director of origination and marketing told Quantum.
Pure Sky also "supports and endorses conventional carbon credit methodologies from CDM [Clean Development Mechanism], Gold Standard and Verra", as well as new methods such as Carbon RX's regenerative agriculture protocol, the statement said.
