Carbon markets are becoming increasingly popular. Nori does its best to balance the concerns of buyers and farmers within its marketplace. Central to this effort is the question of permanence. Generally speaking, carbon permanence refers to the length of time that carbon remains stored in a reservoir, such as soil. In the Nori marketplace, carbon permanence depends on methodology and is rooted in buyers’ and farmers’ desire for a certain and livable future. By helping both sides understand each other, Nori creates a marketplace that is beneficial for all.
Nori addresses buyers’ and farmers' concerns over the permanence and continued management of carbon sequestration.
Nori knows farmers are modern day superheroes. Despite unpredictable fluctuations in commodity prices and weather conditions, at the end of the day, farmers find a way to make it work.
We also know that farmers possess the local knowledge and specialized expertise to make tough decisions. That’s why Nori’s NRT agreement doesn’t take decision-making away from the farmer. We leave it to the farmer to decide how and where they adapt carbon removal practices based on what’s right for their enrolled fields to keep the carbon in the ground.
Carbon removal is the only way to reverse climate change. Any removed CO2 should, therefore, be adequately stored so it cannot return to the atmosphere. Importantly, however, no single solution exists for carbon removal and permanence. Instead, permanence is highly dependent upon methodology requirements. In the pilot US Croplands Methodology, Nori currently asks farmers to store removed carbon in their soils for a minimum of ten years.
In the future, as new methodologies become available, Nori anticipates that it will use the best data available to meet the peer-reviewed standards for that methodology.
Nori addresses both parties' concerns over responsibility and contract length.
Farming cultivates an intimate and personal relationship with the land. Nori knows that the soil-scapes across the country are as diverse as the farmers who grow on them. Whether that means we serve farmers who rent their land, farmers who have an informal agreement with friends or family, or multi-generational farmers, our pilot US Croplands Methodology aims to benefit farmers.
For example, suppose a renting farmer has to leave the project for any reason prior to the ten-year mark. In that case, the farmer may assign another contact to take responsibility for the project and continue carbon sequestration.
Nori’s contractual length of carbon sequestration is dependent upon methodology requirements. In all cases, Nori will do its best to ensure the agreement is reasonable for both buyers and suppliers.
In the case of the pilot US Croplands Methodology, Nori understands farmers’ concerns lie in the restoration of their soil health and the financial incentives available to them, not short-term “gaming” of the carbon market system.
Buyers and farmers want permanent carbon sequestration. Nori works to ensure the outcome is mutually beneficial for both parties.
Carbon markets are becoming increasingly popular, both nationally and abroad, as more people recognize that the only way to reverse climate change is through carbon removal. Bolstered by public sentiment, a growing number of companies are looking to offset their emissions.
Nori is with farmers for the long haul. We believe in carbon removal, and more importantly, we believe that through continued stewardship and carbon sequestration, the land will become resilient and reliable for generations to come. New farmers in Nori’s pilot can be issued grandfathered NRTs for past carbon removal. Nori simply requires verification of continued carbon retention.
Nori’s experience with the pilot US Croplands Methodology has demonstrated that farmers are first and foremost concerned with improving their land and livelihood. As a result, farmers are not incentivized to abandon their regenerative practices at the end of the ten-year contract.
Farmers benefit from buyers’ support in two ways: first, they can continue feeding a growing population, and second, through carbon sequestration, farmers diversify their income stream, thus gaining an additional buffer against already tight profit margins.
Nori’s marketplace will remain as dynamic as the environment which it aims to improve. As projects reach completion, Nori will collect data on supplier practices and perform internal reviews to ensure the continuing validity of its claims.
In our pilot US Croplands Methodology, Nori’s intention is to improve farmers’ circumstances upon entering our marketplace by issuing them NRTs for continuing existing practices.
Current stakeholders will determine what Nori’s marketplace looks like in the future. Nori strives to be upfront and transparent in its communication, and therefore, Nori will adjust its future practices as more data becomes available.
Get an overview of our commitment to Growers and which regenerative practices qualify for the Nori Marketplace.
Learn about the 5 major elements of the Nori Marketplace and the steps we take to ensure high quality carbon removals.