Tapping into the Carbon Credits Market
The carbon credits market, valued at over $103 billion, presents a significant opportunity for farmers worldwide to access additional funding. However, for lower-income African countries, including Nigeria, participating in this market has been challenging due to limited funds and technical expertise.
Challenges in Accessing Carbon Credits
Despite the potential benefits, African farmers often struggle to navigate the complexities of the carbon credits market. Existing methodologies may not accurately capture the climate benefits provided by African agriculture, leaving farmers unaware of how to access these opportunities.
ThriveAgric and Acorn Rabo Bank Partnership
To address this gap, ThriveAgric, a prominent Nigerian Agritech startup, has joined forces with Acorn Rabo Bank to empower over 30,000 smallholder farmers with access to carbon credits. This collaboration aims to remove 1.3 million metric tonnes of carbon emissions and generate $56 million in revenue for Nigerian farmers.
Empowering Farmers with Carbon Credit Access
Through this initiative, farmers in nine Nigerian states will regenerate their farmlands, improve soil health, and boost biodiversity. By implementing climate-smart practices, farmers can increase crop productivity, reduce post-harvest losses, and generate additional income from carbon credits.
Expanding the Scope of Carbon Emissions
ThriveAgric is also focused on building internal capacity to expand the scope of carbon emissions projects beyond agriculture. By leveraging their expertise and networks, they aim to ensure that African farmers are not left behind in accessing the benefits of the carbon market.
Launching Dorewa Platform
In addition to the partnership, ThriveAgric has launched Dorewa, a platform to facilitate seamless carbon credit transactions. Farmers can list their projects on Dorewa, enabling them to earn additional revenue from verified carbon credits. ThriveAgric earns a commission on successful transactions, further incentivizing participation.
Pioneering Carbon Credit Initiatives
The collaboration between ThriveAgric and Acorn Rabo Bank represents a significant step towards empowering Nigerian farmers and tapping into the potential of the carbon credits market. Through innovative solutions and strategic partnerships, they are paving the way for sustainable agriculture practices and economic empowerment in Nigeria and beyond.
