Bayer to Pay Farmers for Cutting Emissions
June 29 2021 - 10:02AM
Dow Jones News
By Maitane Sardon
Bayer AG plans to reward growers in Europe for implementing
farming practices that help it sequester carbon in the soil and
thus reduce its emissions.
The German pharmaceutical giant said Tuesday that it has
launched a decarbonization program in Europe that hinges on getting
farmers to cut their emissions. Bayer said the program would help
it achieve its goal of reducing field greenhouse-gas emission by
30% in 2030.
The company said it would develop a digital tool to allow
farmers to claim monetary rewards if they adopt climate-friendly
farming practices such as using cover crops, tillage reduction,
crop rotations and precision nitrogen application. It said the
tool, which it plans to deliver in the next three years, would be
developed using findings from a carbon farming lab where farmers
and other participants of its supply chain will jointly test
activities and generate learnings.
The tool would be compliant with current data-privacy standards
and would be simple to operate for every farmer, Bayer said.
Bayer didn't spell out how much money the farmers will
receive.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
June 29, 2021 09:53 ET (13:53 GMT)
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