Blockchain CO2 Marketplace Nori Teams With DowDuPont Subsidiary Granularbr>
Granular, which was acquired by chemicals company DuPont last year, is dedicated to building stronger and more profitable farms. The company helps farmers make data-driven, real-time business and agronomic decisions with greater confidence using its web and mobile apps grounded in advanced data science technology.
Nori claims to be the world’s only blockchain-based marketplace for removing carbon dioxide from the atmosphere. Its voluntary marketplace will enable carbon removal suppliers to connect directly with buyers, improving efficiency and reducing costs. Farmland is the first priority project for Nori’s voluntary carbon removal marketplace launching in early 2019.
Under the new joint pilot program, Granular will provide optional early access to Nori’s carbon market to its farmer customers who want to pursue land management practices that contribute to soil health and increased productivity. The two companies will design and build a seamless process for Granular farmers to list their sustainable practices in the Nori marketplace.
“Farmers have an opportunity to impact the course of climate change in a big way, and we’re thrilled about this opportunity to learn and work with them,” said Paul Gambill, Nori CEO. “Farmers don’t need one more thing to worry about. Our agreement today is focused on making sustainable food production as efficient and profitable as possible for the farmers we work with.”
Tamar Rosati, VP of Product for Granular, said that the vast majority of farmers they work with make stewarding their land a high priority, both because soil health is key to their overall profitability, and because they want to pass the ground down to the next generation.
Numerous international and regional carbon markets have been created so far and are currently expanding. In these markets, there are rampant double-counting and fraud. Companies routinely count emissions reductions against their carbon emissions after someone in their supply chain has done the same thing. Nori claims that in their marketplace, there can only be one owner at a time of a Carbon Removal Certificate (CRC).