Viterra has launched a carbon credit program for producers in Alberta.
The program fits under new legislation in the province that allows carbon trading and offsets.
The Regina-based grain company will offer cash payments or, for a limited time, pay extra for carbon credit values that are put toward purchases on Viterra accounts.
Alberta legislation allows producers practising reduced and no-tillage farming to obtain carbon credits as a reward for their land stewardship. They can sell those credits to emitters that need to offset carbon production.
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As a carbon aggregator, or broker, Viterra is able to put together buyers and sellers of carbon credits.
“We have created relationships with a viable network of Alberta companies interested in purchasing carbon credits,” said a Viterra spokesperson.
The spokesperson declined to reveal further details, including how much it would pay participating farmers.
“With over 100 locations in Alberta and decades of experience in Western Canada, Viterra is well-positioned to assist farmers through this new program,” said George Prosk, senior vice-president of finance products, in a news release. “We will work one-on-one with our customers to capture the most value for their carbon credits.”
The credits have to be verified before trades are approved.
Alberta is ahead of other provinces in developing its plan to trade credits, penalize large emitters and register greenhouse gas reduction projects.
Didsbury, Alta.-based Emission Credits Corp. is the province’s largest aggregator of agriculturally sequestered carbon. It announced last week it had sold about 400,000 tonnes of offset credits to power generator TransAlta. The deal was struck under the Alberta Tillage Protocol, which combines the direct and indirect greenhouse gas reductions through reduced till systems on about 900 farms.
Viterra is providing growers in Saskatchewan and Manitoba with information on the carbon market although the program is only for Alberta.
The company has specialists available to assist producers with applications. It will assess how many credits producers are eligible to receive, retroactive to 2002.
For more information, call 866-712-1090.
