ClimaFi, a leading UK climate industry group, has launched a new carbon standard for measuring and reporting carbon sequestration in cannabis cultivation. It’s called The Hemp Carbon Standard and will be utilizing blockchain technology.
Its digital framework will serve as the foundation for reliable carbon accounting and reporting practices, which will, in turn, help farmers on their side of the equation. They will be able to create reliable surveys, develop weather plans, and track progress, ultimately leading to a sustained flow of carbon credits.
“Today’s launch of the Hemp Carbon Standard provides an end-to-end solution to obtain high-integrity carbon credits from industrial hemp farming. The revenue derived from this, for farmers, can be significant and is in addition to the income generated from the crop,” commented Tim de Rosen, ClimaFi’s CEO & Co-Founder.
At the heart of the new model is a new way of measuring, reporting, and verification (MRV). Using data from satellite radar to measure carbon sequestration and supported by ground observations, the numbers become more reliable and auditable, something that has been an issue for projects issuing carbon credits.
Read more at carbonherald.com