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illuminem summarizes for you the essential news of the day. Read the full piece on Quartz or enjoy below:
🗞️ Driving the news: Boomitra, a California-based agtech startup, is changing the agricultural landscape with its international soil carbon marketplace
• This innovative model rewards farmers for sustainable soil practices by selling carbon credits generated through enhanced carbon sequestration in soil, with most of the revenue going back to the farmers
🔭 The context: Founded by Aadith Moorthy after witnessing the impacts of climate change on farmers in India, Boomitra collaborates with over 150,000 farmers globally
• By employing satellite technology and AI, the company monitors increases in soil carbon, which are then converted into verified carbon removal credits
🌍 Why it matters for the planet: Soil carbon storage is a cost-effective strategy for reducing atmospheric CO2, with the potential to eliminate up to five gigatonnes of CO2 annually by 2050
• Boomitra's approach, which includes practices like planting cover crops and minimal soil tilling, could significantly enhance carbon sequestration in the 10% of Earth's land covered by croplands
⏭️ What's next: Boomitra is currently in the early stages, focusing on getting their projects third-party certified
• Upon successful verification, the startup will start distributing financial rewards to participating farmers and ranchers, facilitating a broader adoption of regenerative farming practices
💬 One quote: "[Storing carbon in soils] could remove between two and five gigatonnes of carbon dioxide a year by 2050." (Intergovernmental Panel on Climate Change (IPCC))
📈 One stat: Croplands cover 10% of the Earth's land, offering a significant opportunity for carbon sequestration through regenerative practices
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