$20K Incentive for Farmers to Build Soil Carbon

The AgriProve 20/20 Olsen Prize for Soil Carbon Farming recognises the Olsen family who was issued with the first soil carbon credits under the Emissions Reduction Fund (ERF) in March this year and gives farmers an incentive to match the Olsen’s achievement.

Mainstreaming regenerative agriculture will have a material impact on reversing global warming. But to get there we need to move fast. That’s why, AgriProve is offering a $20,000 prize as an incentive for action. The prize is designed to drive innovation in regenerative agriculture, encourage farmers to register projects under the ERF, and build an evidence base for soil carbon farming.

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The $20,000 will go to the next farmer that achieves this remarkable standard:

20 tonnes of dry matter yield plus an additional 20 tonnes of soil carbon abatement per hectare in a 12-month period, under an ERF project.

Are you in a lower rainfall area?

We are also adjusting the target based on rainfall, benchmarked at 1,000 mm rainfall for the 20/20 standard and then reducing by 2 tonnes for each 100 mm increment. For example, in 500 mm rainfall country the standard to meet would be 10 tonnes of dry matter yield plus an additional 10 tonnes of soil carbon abatement per hectare in a 12-month period.

Terms and Conditions

The prize is open to any farmer participating in a soil carbon project that is registered under the Emissions Reduction Fund before 31 December 2020. All AgriProve projects will automatically be included in the competition. Other projects will be able to lodge their details with AgriProve. The abatement levels will need to be accompanied by an offsets report and issued Australian Carbon Credit Units logged under the project register maintained by the Clean Energy Regulator. The dry matter yield test will be at the discretion of prize applicants. AgriProve reserves the right to request additional information and seek independent verification of information submitted in support of a claim for the 20/20 Olsen prize.