In the Chernihiv region, the Ukrainian agricultural holding Kernel is implementing a pilot carbon sequestration project. The environmental initiative is currently undergoing an international audit for compliance with the global Verra standard, which could potentially allow the holding to enter the carbon credit market.
This was reported by the company’s press service.
Across an area of 15,000 hectares, Kernel is implementing practices that not only reduce greenhouse gas emissions but also transform the land into a powerful carbon sink. This is achieved through specialized agricultural technologies, targeted fertilizer application, and the use of bio-fertilizers.
Audit for market entry
The effectiveness of this initiative must be verified by a professional audit. Only based on its results can the project’s environmental impact be converted into carbon credits. The company refers to them as a “unique form of environmental currency.” In fact, one certificate corresponds to 1 ton of carbon dioxide absorbed from the atmosphere. Although the market is still quite young, the price of certificates already ranges from $15 to $30 per certificate.
Compliance verification will take place over the course of one year. The audit is conducted according to the Verified Carbon Standard (VCS) by Verra. In the future, Kernel's initiative will be subject to scaling up.
“Our soil carbon accumulation project aims to create additional economic value for agricultural producers by enabling them to sell carbon certificates. Equally important is the issue of financial support for restoring soil productivity in Ukraine, particularly in areas affected by the war,” said Marta Trofimova, head of Kernel’s sustainable development division.
Why is it important for the company?
A successful audit result will secure Kernel a place on the international carbon certificate market. The company notes that this is crucial for investing in sustainable development during wartime.
The purchase of carbon credits is usually the domain of large global corporations that need to reduce their own emissions but are unable to do so physically.
EcoPolitic previously reported that in order to achieve emissions reduction goals, the EU allowed the purchase of carbon credits up to 5% of total emissions.
This practice is already actively implemented worldwide. For example, Google signed an agreement with the Brazilian startup Mombak to offset 200,000 t of carbon.
