Key Takeaways:
- Partnership Announcement: ReSeed, a leader in nature-based carbon credit solutions, partners with CREACC-NG to bring Nigerian smallholder farmers’ carbon credits to the market.
- Supporting 38 Million Farmers: This initiative supports Nigeria’s 38 million smallholder farmers, who are crucial in agricultural production but predominantly live in poverty.
- Boosting Incomes through Carbon Credits: The partnership aims to increase farmers’ incomes by 40-80% by selling carbon credits derived from regenerative farming practices.
- Empowering Rural Communities: 50% of carbon credit sales will directly benefit the farmers, with an additional 30% supporting CREACC-NG’s on-ground efforts.
- Scheduled Announcement at COP28: The formal partnership announcement is set for December 9th at the Nigerian Pavilion during COP28.
Transforming Agriculture and Climate Resilience in Nigeria
ReSeed, in collaboration with the Nigerian non-profit Center for Renewable Energy and Action on Climate Change (CREACC-NG), has embarked on an ambitious project to revolutionize the agricultural sector in Nigeria. This initiative, sanctioned by the Nigerian National Council on Climate Change and aligned with the Paris Climate Accord, focuses on leveraging the vast potential of Nigeria’s smallholder farmers.
With 90% of Nigeria’s agricultural output coming from 38 million smallholder farmers, most of whom live below the poverty line, this partnership addresses critical challenges. These farmers have historically faced barriers in accessing market insights, receiving minimal ground support, and affording investments in new agricultural practices. Through CREACC-NG, ReSeed aims to mitigate these challenges by helping farmers adopt regenerative farming practices. This shift increases agricultural productivity and generates carbon credits by drawing carbon into the soil.
Economic and Environmental Impact
The initiative is poised to create a significant economic and environmental impact. ReSeed’s previous partnership with Brazilian Kilombola farmers led to a notable increase in annual incomes, indicating the potential success of the Nigerian project. By trading carbon credits, deforestation’s need for income generation will be significantly reduced, benefiting both the environment and traditional communities.
CREACC-NG, accredited by the United Nations, plays a vital role in this partnership. They provide essential climate solutions and support to underserved communities, focusing on afforestation, reforestation, and improving economic conditions, especially for girls. The organization’s reach in isolated areas will be pivotal in implementing this project effectively.
The sale of carbon credits is expected to improve smallholder farmers’ livelihoods substantially. Farmers will gain financial access to data tracking and technical assistance for resilience and adaptation to climate change with an equitable distribution of revenue from these sales. This project, therefore, stands as a beacon of hope for rural communities in Nigeria, aiming to reduce poverty and hunger significantly.
ReSeed CEO and co-founder Vasco van Roosmalen comments on the partnership’s alignment with sustainable, ethical, and resilient future goals, positioning Nigeria as a frontrunner in environmental and social transformations. The carbon credits from Nigerian farmers are anticipated to be available by 2024, marking a significant milestone in this collaborative effort.
The partnership between ReSeed and CREACC-NG is a promising step towards empowering Nigerian smallholder farmers, combating climate change, and setting new standards for ethical business conduct globally. The formal announcement at COP28 will undoubtedly draw international attention to this groundbreaking initiative.
Image provided by ReSeed
