(MENAFN- EIN Presswire)
Agreement supports farmers and ranchers in Argentina, Brazil, Paraguay, India, Mexico, and Uruguay
DP World's investment will help farmers and ranchers increase carbon drawdown leading to enhanced crop yields, improved food security, and additional income through carbon credits.” - Aadith Moorthy, CEO and Founder, BoomitraSAN MATEO, CALIFORNIA, UNITED STATES, May 28, 2024 /EINPresswire / -- Boomitra , a leading climate tech innovator in carbon projects and Earthshot Prize Winner, has joined forces with global
supply chain solutions company and Earthshot Prize Founding Partner DP World to remove CO2 from the atmosphere through regenerative agricultural practices, empowering farmers and fighting climate change.
DP World has purchased soil carbon removal credits from three of Boomitra's carbon sequestration projects, aiding farmers and ranchers across the Global South in adopting regenerative agriculture practices to drive soil recarbonization. DP World's sustainability strategy focuses on equipment electrification, renewable power and low carbon fuels to cut emissions by 42% by 2030 and reach net-zero emissions by 2050, with carbon compensation only being considered by for the final portion.
The purchase of these carbon credits will support three of Boomitra's projects:
(1) Grassland Restoration in Northern Mexico, with over 140 ranchers across 1.9 million acres adopting improved grazing practices to increase soil organic carbon in their lands.
(2) Grassland Restoration in South America, with over 200 ranchers in the lowlands of Argentina, Brazil, Paraguay, and Uruguay practicing sustainable grassland management practices.
(3) Carbon Farming in India, with nearly 70,000 smallholder farmers across the Indian subcontinent introducing a variety of sustainable agriculture management practices.
Powered by AI and remote sensing technology, Boomitra equips farmers and ranchers to increase their soil carbon and yields while securing additional income through carbon credits. Using cutting-edge technology, Boomitra accurately and affordably measures soil carbon levels, leading to the certification of carbon sequestration as trusted carbon removal credits by an independent third party. The majority of the revenue generated from the sale of the credits goes back to farmers and ranchers across the world.
Boomitra's CEO, Aadith Moorthy, stated, "We are thrilled that DP World is including Boomitra's soil carbon credits in their carbon removal portfolio. Boomitra is tackling climate challenges head-on, aiming to achieve gigaton scale impact. DP World's investment will help farmers and ranchers increase carbon drawdown leading to enhanced crop yields, improved food security, and additional income through carbon credits.”
“At DP World, we are continuing to integrate sustainability and efficiency across our global operations – helping our business, and our customers, reach their respective carbon reduction goals. We are excited to work with Boomitra to support farmers and ranchers to reinvest in their lands, while we collectively move toward a more sustainable future,” said Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World.
A 2023 Earthshot Prize Winner, Boomitra's projects benefit over 150,000 farmers on four continents, covering 5 million acres. With 100 global partners, Boomitra has removed 10 million tonnes of CO2 from the atmosphere. Its current projects are estimated to remove over 100M tonnes of CO2 from the atmosphere over the next 20 years. It plans to distribute $200M in carbon finance to farmers and ranchers participating in their projects by 2025.
DP World is an Earthshot Prize Founding Partner. An agreement with an Earthshot Prize Winner highlights the pivotal role the Prize plays in cultivating collaborations that drive positive environmental change on a global scale.
Hannah Jones, CEO of The Earthshot Prize, said,“The Earthshot Prize team is dedicated to forging impactful partnerships that drive positive change and accelerate environmental innovations. This fruitful collaboration between an Earthshot Prize Winner and Global Alliance Member underscores our commitment to fostering collective action and leveraging our platform to create a sustainable future for generations to come.”
About Boomitra
Boomitra is the leading international soil carbon marketplace powered by AI and remote sensing technology. Alongside an ecosystem of international partners, Boomitra equips every farmer and rancher to increase their soil carbon and yields, while securing additional income through carbon credits. A 2023 Earthshot prize winner, Boomitra's projects benefit over 150,000 farmers on four continents, covering 5 million acres. With 100 global partners, Boomitra has removed 10 million tonnes of CO2 from the atmosphere.
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About DP World
Trade is the lifeblood of the global economy, creating opportunities and improving the quality of life for people around the world. DP World exists to make the world's trade flow better, changing what's possible for the customers and communities we serve globally.
With a dedicated, diverse and professional team of more than 108,000 employees spanning 74 countries on six continents, DP World is pushing trade further and faster towards a seamless supply chain that's fit for the future.
We're rapidly transforming and integrating our businesses -- Ports and Terminals, Marine Services, Logistics and Technology – and uniting our global infrastructure with local expertise to create stronger, more efficient end-to-end supply chain solutions that can change the way the world trades.
What's more, we're reshaping the future by investing in innovation. From intelligent delivery systems to automated warehouse stacking, we're at the cutting edge of disruptive technology, pushing the sector towards better ways to trade, minimising disruptions from the factory floor to the customer's door.
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Andrea Okun
Boomitra
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