UK: Profits from carbon credit sales reinvested by farmers to subsidize feed costs
A story about Mootral and its carbon credit sales also attracted interest.
The British-Swiss company reported that 3,000 of its CowCredits were purchased by well-known UK businesses, including a household brand in financial services, driving "much-needed capital into sustainable agriculture."
CowCredits are issued by Washington, DC headquartered non-profit organization, Verra, and are generated based on a reduction of methane from enteric fermentation in cattle. They are the first of their kind in the world, according to Mootral, which developed them. The audited credits originate from UK dairy farms using Mootral's feed supplement, which according to that developer, reduces methane emissions by up to 38%.
Thomas Hafner, CEO of Mootral, said the sales indicate the strength of the demand for such hyperlocal, high-quality credits as firms seek to credibly offset their carbon footprint.
The company maintains that UK businesses are proactively seeking the “highest quality credits” to meet environmental, social, and governance (ESG) targets and protect their reputation amid an offsets credibility crunch. “CowCredits offer a premium, local alternative to international offset projects.”
Photo Credit: GettyImages/Umnat Seebuaphan
