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Australia’s Soil Carbon Pioneer Sees an Offset Fortune in Dirt

AgriProve says falling costs are making soil sequestration increasingly viable, and the firm is aiming to install projects across an area almost the size of Cuba.

A farmer operates a combine harvester during a wheat harvest at a farm in New South Wales, Australia.

A farmer operates a combine harvester during a wheat harvest at a farm in New South Wales, Australia.

Photographer: David Gray/Bloomberg

There are billions of dollars to be made from capturing emissions in Australia’s dirt, according to the only developer to have been awarded national offset credits for using the land management technology.  

AgriProve is seeking to install carbon farming projects across an area almost the size of Cuba and sees potential to store more than 25 million tons of the nation’s emissions in 2030, equivalent to 5% of last year’s total. That would generate income of A$750 million ($517 million) a year at current prices for the Australian Carbon Credit Units the projects would receive.