Truterra Announces New Agreement with CoBank for Purchase of CO2 Removals

Truterra, LLC, the sustainability business of Land O’Lakes, Inc., one of America’s largest farmer-owned cooperatives, today announced an agreement with CoBank, one of the largest private providers of credit to the U.S. rural economy, to purchase agricultural carbon dioxide removals. The purchase will support CoBank’s corporate sustainability program and help offset the bank’s Scope 1 and Scope 2 emissions in the 2022 calendar year.

“This purchase is part of our ongoing sustainability journey,” said Steve Wittbecker, Chief Sustainability Officer of CoBank. “We are delighted to be partnering with Truterra in an innovative program that reduces our environmental footprint, while also delivering benefits to farmers.”

“Truterra is excited to collaborate with CoBank to support farmers in their transition to more regenerative management practices,” said Tom Ryan, President, Truterra. “We want to connect the farmers in our network who are already doing incredible environmental work in the field to the companies looking for solutions in their own sustainability journeys.

Working with Truterra helps create and scale sustainable impact in farming and food systems, such as assistance in adopting regenerative management practices including cover crops and no-till that facilitate enhanced carbon removal. Truterra looks beyond individual carbon transactions to capacity building and co-investing with farmers and ag retailers in climate-smart agriculture and regenerative practices that are sustainable for the long term. Through its ag retailer network, Truterra brings together a full ecosystem of support for farmers, including the recently announced sustainability services, which are a comprehensive suite of agronomic and financial resources designed to meet farmers where they are at each stage of their sustainability journey. 

Truterra’s 2023 carbon program, one of multiple sustainability offerings, aims to build upon the scale and industry-leading payouts farmers have received since the program was launched in 2021. Truterra’s 2022 carbon program is expected to pay farmers more than $4.5 million total in cash payments for nearly 237,000 tonnes of carbon stored in soils. For more information on Truterra’s carbon program, visit http://www.truterraag.com/enroll.

The full reach of Land O’Lakes, Inc., including Land O’Lakes Dairy Foods, Purina Animal Nutrition, WinField United and Truterra, touches nearly every corner of America, from the grocery store shelf to about half of America’s harvested acres to having a presence in over 10,000 rural communities across the country. By leveraging this network – including trusted agronomy advisors at 50 participating ag retailers across 17 states – Truterra and its network offers the unique know-how and credibility needed to drive the adoption of regenerative agriculture practices with farmers who know and trust the Land O’Lakes brand.

About Truterra, LLC  
Truterra is a leading sustainability solutions provider, advancing and connecting sustainability efforts throughout the food system at scale – from farmers to ag retailers to value chain collaborators including food and fiber companies. Truterra positions farmers for success by providing them tools and resources to establish a stewardship baseline, track progress on every field they farm, access conservation resources, and prepare for ecosystem services market opportunities. The Truterra network brings together the best in agricultural technology and precision conservation to drive sustainability across the food system, feeding people, safeguarding the planet, and supporting farmer livelihoods. Truterra was launched in 2016 by Land O’Lakes, Inc., a member-owned cooperative that spans the spectrum from agricultural production to consumer foods. To learn more, visit www.truterraag.com.

About CoBank  

CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 76,000 farmers, ranchers and other rural borrowers in 23 states around the country. CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore. To learn more, visit www.cobank.com.