Government officials on Monday are scheduled to unveil a first-of-its kind purchase of verified carbon credits generated on working ranch lands by automaker Chevrolet.
Sen. Debbie Stabenow, D-Mich., Chairwoman of the Senate Agriculture Committee and Robert Bonnie, USDA under secretary for natural resources and environment, are scheduled to make the announcement.
The two will be joined by John Tomke and Paul Schmidt of Ducks Unlimited, Greg Martin, General Motors executive director for global public policy, and Sean Penrith, The Climate Trust executive director.
The announcement is scheduled for 10:30 a.m. Central time. According to the USDA, participants will discuss how they expect the carbon credit purchase program will create revenue for farmers while reducing carbon emissions.
USDA officials also will discuss how Conservation Innovation Grants are used to help develop the methodology to measure carbon stored in soil.
Chevrolet has previously purchased carbon credits through its voluntary Carbon Reduction Initiative, last year purchasing $600,000 worth of credits from nitrogen fertilizer manufacturer CF Industries Holdings. The funds were later donated to the National FFA Foundation.
In that purchase, Chevrolet retired the carbon credits, meaning they were not used to offset emissions related to specific Chevrolet operations or products — or those at any other site.