►
Description
Join us and explore Regen Network’s new CarbonPlus Credit - an innovative ecosystem service credit with co-benefits including carbon sequestration, animal welfare, soil health and grasslands health. In this webinar we’ll review the current state of carbon credit markets as well as the methodologies and technology supporting the CarbonPlus Credit.
Panelists include Regen Network CEO Christian Shearer, Toby Grogan from ImpactAg, Julie Mettenburg from Tall Grass Network and James Pittman, Senior Ecological Economist for Regen Network. Moderated by David Fortson, Director of Marketing for Regen Network & CEO of LOACOM.
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A
A
A
I'd
like
to
welcome
our
other
panelists,
including
christian
shearer,
ceo
of
regen
network
toby,
grogan
from
impact
ag
julie,
mettenberg
from
the
tall
grass
network
and
jim
pittman
regen
network
senior
ecological
economist.
First
of
all,
I'd
like
to
start
by
orienting
all
of
us
on
how
to
engage
today.
Our
fourth
panelist
will
each
take
some
time
to
outline
their
focus
area
jim
by
starting
helping
us
better
understand
the
state
of
the
carbon
market
and
related
ecosystem
services.
A
A
Please
note
that
this
webinar
is
being
recorded
and
we
are
going
to
encourage
you
to
share
it
widely
with
your
team
and
anyone
else
in
your
network.
You
think,
would
find
this
valuable,
and
I
like
to
start
today
by
setting
setting
the
field
right.
It's
something
we
do
a
lot
here
at
regen
network
anytime.
You
know,
we've
got
busy
days
and
so
much
going
on
it's
good
to
kind
of
find
ourselves
and
get
present.
A
A
Today,
with
you
know,
over
100
people
registered,
you
know,
all
of
us
are
landing
at
the
same
place
and
at
the
same
time
and
same
moment
together,
clearly
we're
dedicated
to
doing
our
part
as
individuals
as
companies
and
as
organizations
or
enterprises
to
address
the
ever-present
issue
of
climate
change.
So
I'd
like
you
to
consider
for
a
moment
the
journey
that
brought
you
here
in
your
careers
or
personally
this
life
path.
That
literally,
is
landing
us
here
at
the
same
moment.
A
A
A
A
A
A
A
A
A
First
like
to
start
by
introducing
jim
pittman
jim's
part
of
the
regen
network
team,
he's
an
economist
by
trade
and
he's
been
helping
guide
us
in
better
understanding
the
environment
for
ecosystem
service
credits
and
jim's,
going
to
kind
of
bring
bring
forth
a
little
bit
more
understanding
of
the
bigger
picture
of
ecosystem
service
credits,
as
well
as
the
carbon
plus
credit
and
kind
of
where
it
might
fit
into
the
environment.
So
jim
with
no
further
ado.
Please
take
it
away.
B
B
What
I'll
do
is
just
frame
a
little
bit
in
general
about
the
press,
the
economic
precedent
that
ecosystem
services
fit
into
the
importance
of
connecting
ecosystem
services
to
carbon
markets
and
and
how
the
markets
that
we're
participating
in
are
really
providing
great
opportunities
for
ranchers
and
and
farmers
to
take
part
in
in
particularly
changing
the
trend
when
it
comes
to
climate
change.
A
quick
quote
to
start
out
with
that,
I'm
always
fond
of
comes
from
a
gentleman
named
gaylord
nelson
in
1916.
B
However,
as
much
as
25
trillion
us
dollars
in
2020
is
lost
every
year
in
in
value
that
natural
capital
can
provide-
and
that's
not
just
the
value
in
that
given
year,
but
that's
a
loss
of
natural
capital
of
healthy
ecosystems
that
will
no
longer
be
able
to
provide
that
steady,
ongoing
value
stream
to
us.
So
we
have
an
increasing
problem
when
it
comes
to
natural
capital,
risk
and
loss
of
ecosystem
services
that
we're
seeing
especially
prominently
in
in
the
climate
change
issue.
B
And
that's
that's
really
why
regen
network
has
focused
on
launching
this
carbon
plus
credit
system
is
to
is
to
really
address
this
loss
so
with
that
that
25
trillion
dollar
loss
in
potential
value
generation
every
year
we're
seeing
it
really
prominently
in
loss
of
wetlands
and
loss
of
swamps
and
flood
plains
that
have
decreased
by
about
64
percent.
Over
that
study
period,
coral
reefs,
tropical
forests
and
coastal
wetlands
systems.
B
Another
area
where
we're
seeing
it
really
prominently,
though,
is
in
soil
loss
in
agricultural
systems,
and
so
we
understand
at
regen
network
how
essential
soil
health
is
to
agroecological
systems
and
the
eco,
the
ecosystems
that
are
surrounding
them.
So
there's
a
great
opportunity
in
this
loss
of
natural
capital
value,
ultimately
now
being
about
13
of
the
total
natural
capital
value
that
we
lost
over
10
years.
There's
a
great
opportunity
for
us
to
work
with
ranchers
and
farmers
to
change
that
trend.
B
We're
seeing
a
lot
of
push
in
this
direction
for
change
from
banks
and
financial
institutions
most
prominently
in
2012.
The
the
signing
of
the
natural
capital
declaration,
where
there's
a
recognition
by
financial
institutions,
that
ecosystem
services
are
a
global
comments
and
we
need
to
actually
oh
excuse
me
that
we
need
to
actually
recognize
that
in
our
financial
decision
making
in
our
business
decision
making
and
develop
fiscal
measures
and
market
mechanisms
and
accounting
systems
to
to
really
engage
in
protecting
ecosystem
services.
So
that's
where
we
come
in
at
regen
network.
B
We're
really
focused
not
not
just
on
working
with
the
public
sector,
but
really
engaging
the
private
sector
in
carbon
markets
in
ecosystem
service
markets.
We
believe
that,
as
with
most
of
the
the
popular
discussion
around
the
planet,
that
market
mechanisms
are
very
effective
for
responding
to
climate
change
and
ecosystem
service
challenges.
B
There
are
over
a
handful
of
mandatory
compliance
markets
in
the
world
when
it
comes
to
carbon
markets
and
many
many
more
overlapping
voluntary
markets
that
are
based
on
the
notion
that
we
need
to
cap.
Global
emissions
create
allowances
for
those
industries
that
are
do
have
the
highest
emissions,
so
that
we
can
slowly
decrease
those
allowances
and
decrease
the
amount
of
global
emissions,
but
then
give
opportunities
for
nature-based
climate
solutions
through
offset
mechanisms
where
farmers
and
ranchers
and
land
stewards
can
engage
in
these
markets.
B
So
that's
why
we're
launching
this
carbon
plus
credit
system,
in
particular,
to
take
the
transaction
costs
of
engaging
in
carbon
markets
from
where
it
is
now
at
over
50
percent
of
the
amount
invested
into
projects
down
to
less
than
20
percent,
so
we're
making
a
much
more
cost
effective
way
for
carbon
credit
buyers
to
engage
in
the
markets
and
more
of
their
dollars
can
actually
go
to
implementing
these
projects.
But
in
our
case,
actually,
we
feel
the
ecosystem
services
are
very
important
as
well.
B
B
So
each
of
these
categories
are
categories
where
they're,
healthy
and
emerging
ecosystem
service
markets
around
the
planet
and
what
we're
doing
in
regen
network
is
connecting
those
two
carbon
credits
and
really
emphasizing
the
carbon
plus
benefit
of
not
just
purchasing
carbon,
not
just
purchasing
associated
co
benefits,
but
really
providing
funding
mechanisms
where
ranchers
and
farmers
can
be
compensated
for
the
work
that
they're
doing
that's
providing
all
these
other
fast
sets
of
value
beyond
just
the
carbon
values.
So
that's
that's
our
focus
on
a
little
bit
of
an
overview.
B
Intro.
We're
really
excited
about
this
opportunity
to
release
our
carbon
plus
credits
into
the
market,
and
I
guess
I'll
close
with
another
quote
here.
A
friend
and
colleague
of
mine,
herman
daly
sums
it
up
well
in
a
way
that
I
think
connects
with
our
food
systems.
Well,
that
in
economics,
we've
really
focused
too
much
on
the
economy's
circulatory
system.
B
We've
neglected
to
study
the
digestive
tract,
so
we've
looked
at
throughput
and
growth
and
ways
to
push
more
of
the
same
food
through
an
ever
larger
digestive
tract
now
we're
getting
into
development,
which
means
eating
better
food
and
digesting
it
more
thoroughly
and
working
with
our
farmers
and
ranchers
to
support
healthy
food
systems
in
a
way
that
is,
is
part
of
a
healthy
planet.
Dynamic.
A
Wonderful
thanks
jim,
for
you
know
giving
us
a
bigger
picture
view
of
how
the
what
is
the
ecosystem
service
credit
market
is
like
and
where
we
fit
in,
and
I
think
there's
a
good
opportunity
to
to
pass
the
baton
to
christian
christian.
Could
you
maybe
give
us
a
more
focused
view
into
the
carbon
plus
credit
and
the
region
registry,
which
are
you
know,
two
critical
parts
of
the
regen
network
ecosystem.
C
Yeah,
absolutely
thanks
a
lot
and
thanks
for
that
intro
james,
so
glad
to
be
on
with
you,
toby
and
julie,
glad
to
be
on
this
panel.
So
I'm
going
to
share
my
screen
here.
Let's
see,
if
I
do
this
right,
can
you
see
that
david
okay,
great
so,
let's
dive
right
in?
I
want
to
start
with
a
high
level
of
regen
network
get
into
the
regen
registry
and
then
into
the
carbon
plus
credit.
C
We
do
that
by
providing
technological
underpinnings
that
make
ecological
data
and
ecological
agreements
trusted
transparent
and
audited.
That's
where
the
blockchain
comes
in,
that's
where
other
open
source
ecological
modules
comes
in.
That's
where
the
technological
underpinnings
of
all
this
come
in.
On
top
of
that
essential
infrastructure,
we've
built
regen
registry,
where
we're
enabling
the
next
generation
of
ecosystem
ecosystem
services
credits
at
regen
network.
C
Grasslands
account
for
about
a
third
of
the
land
across
the
entire
planet,
and
we've
already
seen
the
best
management
practices
like
holistic
management.
Rotational
grazing
can
can
not
only
improve
the
ecological
well-being
of
the
site,
but
also
are
profitable
for
the
farmers
who
implement
them,
and
this
makes
grasslands,
management
and
holistic
management
of
of
animals.
C
The
hopeful
place
to
start
for
regenerative
agriculture,
wilmot
farm,
the
the
project-
that's
that's
shown
here
in
this
in
this
example,
is
an
1800
hectare
farm
in
new
south
wales,
australia,
you'll
get
a
chance
to
meet
toby
in
a
minute
who's
familiar
with
a
lot
more
familiar
with
operations
than
I
am
they're.
Managing
the
cattle
using
best
management
practices
like
mob
grazing
and
time
controlled.
C
Rotational
grazing
they've
done
a
phenomenal
job
of
raising
the
best
quality
beef,
as
well
as
improving
the
ecological
outcomes
of
the
site
as
part
of
their
carbon
carbon
plus
credit
issuance.
We
monitor
four
areas:
I'll
walk
you
through
a
high
level
overview
of
each
and
dive
a
little
bit
more
into
how
we
monitor
the
soil,
organic
carbon.
So,
first
of
all,
with
animal
welfare,
we
rank
it
on
an
adherence
to
national
animal
welfare
standards
that
track
nutrition
level,
access
to
water,
social
contact
and
more.
C
C
This
is
the
minimal
amount
of
soil
of
on
the
ground
truthing
that
we
needed
to
be
able
to
correlate
that
with
remote
sensing
data.
So
we
used
bands
two
and
four
from
sentinel
satellite
data.
We've
then
correlated
that
with
all
the
ground
data
and
we've
found
a
93.1
percent
correlation
between
the
measurements
read
from
satellite
and
the
measurements
we've
received
on
the
ground,
which
has
then
allowed
us
to
basically
take
a
virtual
soil
sample
of
every
single
pixel
across
the
entire
site.
C
What's
really
interesting
about.
This
is,
if
you
look
right
in
the
center
of
the
site,
you
can
see
a
red
patch
on
one
side
and
a
kind
of
yellow
green
patch
on
the
other
side,
there's
actually
a
fence
line
that
becomes
visible
with
this
data
because-
and
I
don't
know
why
the
the
ranchers
on
the
ground
would
have
to
speak
to
this
more
clearly.
But
somehow
it
was
either
the
timing
of
them.
C
So
we're
we're
already
diving
into
the
work
to
start
enabling
and
onboarding
cropping
and
forestry
related
projects
onto
regen
registry
and
eventually
will
host
conservation
on
other
custom
credits
like
marine
applications
and
potentially
renewable
energy
applications
as
well
on
regen
registry,
there's
a
whole
other
side
to
this
marketplace
that
I
should
talk
about
for
a
second
the
buyers
of
these
credits
right.
There
are
literally
thousands
of
companies
that
are
now
publicly
committed
to
deeply
reducing
their
carbon
footprints
that
are
actually
and
actually
committing
to
going
climate
climate
positive
in
their
operations.
C
C
they're,
really
pushing
pushing
the
the
way
here.
So
there's
a
lot
more
to
say
about
all
this,
but
I
encourage
you
to
come
onto
our
website
to
learn
more.
If
you're
interested
in
registering
a
project,
you
have
a
farm,
a
ranch.
You
want
to
register
your
project
with
us.
Please
get
on
our
website
to
do
that
or
if
you're
interested
in
purchasing
credits,
there's
a
lot
more
to
learn
about
these
credits
on
our
website.
That's
at
www.regen.network
thanks
a
lot.
A
Great,
thank
you
so
much
christian.
So
now
we're
going
to
actually
pull
this
and
go
down
under
at
least
down
under
from
here
in
california
with
us,
is
toby
grogan
from
impact
ag
and
has
been
a
close
partner
of
ours
in
the
development
of
the
carbon
plus
credits
and
giving
us.
You
know
real
land,
real
humans,
real
animals
that
are
going
to
be
affected
by
the
carbon
plus
credit.
So
with
that
said,
toby
can
you
share
with
us
the
relationship
between
regen
network,
the
carbon
plus
credit
and
your
your
team
down
under.
D
D
D
So
that's
impact
ag
and
just
to
touch
on.
We
want
cattle
company
and
and
some
of
the
activity
and
actions
that
that
they've
undertaken
to
generate
this
carbon
credit,
which
I
think
julie,
would
be
able
to
talk
to
some
of
these
points
as
well.
So
the
wilmot
cattle
company
is
four
and
a
half
thousand
acres,
it's
located
in
eastern
australia.
D
D
A
piece
of
grass
infrequently
so
they'll
graze
a
piece
of
grass
move
on,
and
they
won't
return
to
that
to
that
same
patch
of
grass
for
in
this
case
months,
and
that
it
just
enables
the
natural
ecosystem
to
recover
regenerate,
and
that
has
resulted
in
increasing
soil.
Carbon,
increasing
infiltration
rate
of
rain
water,
increasing
biodiversity
in
the
pasture
mix
itself,
increasing
biodiversity
in
the
woody
species
that
surround
it.
The
animals
that
exist
on
this
farm
and,
at
the
same
time
excitingly.
D
It
has
also
led
to
increased
pasture
production
for
the
amount
of
rainfall
that
this
farm
this
ranch
receives,
so
we're
protecting
the
environment
or
regenerating
the
environment,
we're
increasing
productivity
for
the
farmer
and,
in
this
case,
we're
rewarding
the
farmer
for
the
the
ecosystem
service
and
the
co-benefits
that
this
farm
has
generated,
and
that
is
carbon
and
the
co-benefits
that
christian
talked
through
before.
So
you
know
it's
a
huge
opportunity.
D
Wilmot
cattle
company
is
a
leader
in
this
field,
the
region
network,
and
this
credit
will
enable
the
leader
be
rewarded
and
that
leader
will
be
a
demonstrator
to
others
in
my
part
of
the
world
and
hopefully
in
the
us
and
others,
to
make
the
transition
to
regenerative
agriculture
to
pursue
and
get
rewarded
for
credits
such
as
this
one.
Thanks
david.
A
E
Yeah,
thank
you.
Everyone
very
interesting
to
hear
all
these
perspectives,
and
I
also
want
to
call
out
a
couple
of
my
colleagues
pablo
in
argentina,
with
the
savory
institute
and
deb
one
of
my
close
colleagues
on
this
project
actually
in
washington.
So
it's
fun
to
see
them
on
the
call
yeah.
I
exist
at
the
intersection
of
a
lot
of
these
come
interests,
and
so
I'm
putting
on
several
hats
and
just
to
explain
those
I
am
in
kansas.
E
E
The
final
hat
I'm
wearing
is
with
a
new
project
where
I'm
more
in
toby's
position
and
it's
called
the
provenance
company.
It's
a
new
organization
that
my
friend
deb
and
I
are
part
of
and
we're
actually
taking
on
land
for
management
in
kansas,
with
the
explicit
purpose
of
demonstrating
a
new
pathway
that
can
work
economically
as
well
as
ecologically.
So
we
have
a
project
coming
on
right
now
in
western
kansas,
it's
2700
acres
dry
land,
it's
where
the
aquifer
is
so.
E
If
anyone
knows
about
the
ogallala
aquifer
under
much
of
the
high
plains
of
the
of
north
america,
it
is
at
great
risk
of
being
depleted
due
to
irrigation,
and
so
this
is
a
real
sustainability
question.
How
do
we
farm
here
and
sustain
the
people
here
in
the
system
we
have,
while
we
are
trying
to
do
a
better
job
with
the
resource
we
have,
and
so
all
of
these
intersections
lead
to
carbon,
to
figuring
out
how
to
monetize
carbon?
E
A
couple
of
things
I
just
wanted
to
tie
together.
The
first
one
is
that
when
we
talk
about
a
carbon
plus
credit
or
monetizing
carbon
for
farmers,
it
is
an
incredible
lever
that
we
have
to
help
farmers
do
better
by
the
environment.
They
have.
They
want
to
do
better,
but
it's
very
hard
without
that
economic
piece
of
the
equation,
and
so
paying
for
the
farmers,
outcomes
and
ecosystem
services
and
carbon
water.
E
Other
other
outcomes
becomes
a
very
important
lever
to
advance
what
we
would
all
want
to
see
in
our
environment
and
so
that
added
income
stream.
It
could
make
all
the
difference
for
a
farmer
not
just
being
able
to
farm
differently,
but
also
staying
in
business.
Right
now,
to
be
very
honest
with
you,
and
so
one
of
our
first
goals
here
is
to
make
that
economic
pathway
understandable
if
we
add
that
carbon
credit
into
the
mix.
E
The
second
thing
I'll
say
about
this
opportunity
from
the
hat
of
the
savory
institute,
ecology
outcome.
Verification
program
which
I
administer
here
in
kansas
with
pablo
and
others,
is
that
the
plus
part,
the
carbon
plus
piece
that
regen
network's
bringing
to
the
table
gives
us
a
tool
to
think
about.
Measuring
what
we
would
call
leading
indicators,
so
carbon
is
a
lagging
indicator
of
our
success.
E
E
E
A
Thank
you
julie.
We
appreciate
you
being
here
with
us
today,
so
with
that
you
know,
we've
got
a
number
of
questions
popping
up
that
I'd
like
to
go
ahead
and
start
posing
to
the
team
here,
they're
coming
in
both
chat
and
q,
a
so
I'll
try
to
get
to
all
of
them.
So
thank
you
for
your
patience.
Everybody
louise
asks
right
straight
away
for
toby.
What
price
are
you
getting
for
your
credits
and
who
are
the
buyers.
C
That
is
essentially
the
the
range
that
they've
been
that
they've
been
seeing
across
the
field.
So,
despite
the
fact
that
there
are
carbon
credits
out
there,
that
that
sell
for
less
than
that
and
carbo
credits
itself
are
more
than
that.
Foreign
agriculturally
based
credit
with
the
verifiability
of
the
co
benefits
associated.
C
That
price,
because
I
think
it
really
fits
the
needs
of
the
producers
themselves.
You
know,
as
we
start
to
get
below
ten
dollars,
a
ton
and
seven
dollars
a
ton.
Five
dollars
a
ton,
then
the
the
business
model
around
implementing
regenerative
practices,
with
the
hope
of
getting
a
return
on
that
starts
to
disappear
right.
A
C
Should
I
take
this
one
again
yeah,
I
think
so,
yeah
absolutely
so.
We
have
built
the
remote
sensing
soil,
organic
carbon
methodology
with
our
with
our
remote
sensing
science
team
and
at
the
basis
of
it,
is
ghg
accounting
methods
that
are
shared
across
methodologies
and
science,
that
that
can
be
applied
to
many
different
ecosystem
types
right.
We've
started
with
new
south
wales,
australia
and
particularly
wilmot
farm
as
our
pilot
location
and
we've
validated
our
remote
sensing
algorithms
to
the
data
coming
specifically
off
of
wilmot
farm.
Now
we.
E
C
The
expectation
is,
as
we
move
to
ecologies
that
start
to
differ
in
their
characteristics
from
the
ecology
that
we
see
at
wilmot
farm.
We
will
have
to
do
a
little
bit
more
tweaking
of
that
methodology,
certainly
as
we
get
away
from
ranching
and
grasslands
into
cropping
or
forestry,
that
methodology
will
start
to
look
very
different,
but
even
within
grasslands
itself.
We
expect
there
to
be
some
some
variation
across
the
planet.
A
C
Yeah
I
mean
I
can
start
with
that.
We
are
operating
in
the
voluntary
carbon
credits
markets,
which,
which
basically
means
that
the
what's
expected
of
a
carbon
credit
in
the
voluntary
markets
is
to
create
a
methodology,
have
a
certain
amount
of
peer
review
associated
with
that
methodology,
publish
the
methodology
so
that
it
can
be
viewed
and
reviewed
by
outside
parties
and
then
issue
credits.
C
We
have
followed
that
entire
pathway,
when
the
question
asks
whether
it's
been
accepted.
It
certainly
isn't
part
of
any.
You
know
government
sanctioned
regulatory
markets,
but
is
being
accepted
by
the
market
mechanisms
as
they're
presented
to
us
so
james.
I
don't
know
if
you
want
to
chime
in
there
and
share
a
little
bit
more
about
voluntary
versus
regulated
or
some
context
that
you
might
think
is
is
useful
here.
B
B
So
I
think
I
think,
what
we're
seeing
and
what
what
regen
network
is
is
taking
part
in
right
now
is
that
forward
edge
of
innovation,
making
sure
that
we
are
prepared
for
the
demand
and
can
meet
that
demand
for
carbon
credits,
because
there
are
dollars
going
into
the
market
far
beyond
what
what
the
existing
supply
can
provide.
I
think,
on
the
technical
side,
what's
really
exciting
about
regen
network
is
the
methods
that
are
out
there
right
now.
B
Many
of
the
methods
use
spot
based
soil
sampling,
which
is
great
for
that
individual
spot,
but
it
as
we
saw
in
the
map
that
was
shown
it
it.
It
leaves
a
great
deal
of
uncertainty
as
to
what
the
actual
carbon
dynamics
are
in
all
of
those
other
locations,
so
soil,
ground
truth,
soil
samples
are
certainly
an
important
part
of
the
technological
side
of
of
affirming
what
kind
of
changes
there
there
have
been
in
soil
carbon
stocks.
B
So,
what's
exciting
about
the
the
method
that
we've
developed
is
that
the
the
remote
sensing
tool
provides
some
data
that
are
specific
to
every
single
pixel
on
that
particular
land
area,
and
we
can
look
at
those
dynamics
in
and
of
themselves
and
then
also
in
in
relation
to
fluctuations,
drought,
occurrences
or
other
fluctuations
in
environmental
conditions
and
then
in
tandem
with
soil
testing.
It
provides
really
what
what
in
in
many
ways
is
the
most
robust
opportunity
to
look
at
the
specifics
of
carbon
point
by
point
over
an
entire
land
area.
D
From
a
farmer
and
rancher
point
of
view
and
acknowledging
some
of
the
comments
and
questions
that
are
coming
up,
you
know
australia
does
have
a
regulatory
soil,
carbon
methodology
and
that
has
been
operating
for
several
years
and
something
that
we
look
at
at
impact
ag
and
we
wouldn't
rule
out,
participating
and
indeed
have
farms
entering
into
that
system.
But
the
so.
So
there
is
acknowledgment
that
there
is
a
variety
of
different
markets
and
methods
available.
D
A
Thank
you
toby.
So
we've
got
a
couple
questions
related
to
how
much
of
this
compensation
reaches
the
farmer
percentage
of
the
the
revenue
associated
with
the
sale
of
carbon
credits
and
then
on
a
related
question.
What
are
your
thoughts
on
the
different
standards
and
protocols
that
are
being
developed
and
how
is
regen,
validating
and
verifying?
So
maybe
starting
with
the?
What
flows
down
to
the
farmer
or
do
we
know
yet.
A
Okay,
thank
you,
christian
massimiliano.
I
hope
I
said
that
right.
I
had
a
question
here.
There
are
some
cases
where
the
major
obstacles
to
transition
to
regen
agriculture
are
the
high
costs
of
appropriate
equipment
such
as
no-till
drills,
especially
for
small-scale
farmers
or
the
high
bureaucratic
and
monetary
investment
required
by
on-farm
avatars
for
the
integration
of
animals
and
farmland.
A
Far
far
from
any
slaughterhouse
rewards
for
ecosystem
services
wants
to
be
a
form
of
bridge
finance
to
facilitate
the
regenerative
conversion,
but
will
it
suffice
to
break
through
these
high
entry
barriers
and
I'd
say
julian?
If
you
want
to
take
a
crack
at
this
one,
if
you
have
a
thought
here
and
if
not,
we
can
popcorn
around.
E
E
E
For
us,
the
carbon
credit
is
a
profit
loss
of
its
own,
it
has
its
costs
going
into
it
and
it
has
the
income
that
we
expect
to
get
that
will
then
either
be
positive
or
negative,
and
so
you
know,
I
think
that
it
seems
very
viable
to
monetize
it,
and
I
think
that's
the
question
it.
Will
it
be
the
only
business
we
have?
No,
will
it
will
it
replace
other
things
as
it
might,
so,
I'm
just
going
to
say
that
that
barrier
of
change
is
extremely
high
and
it
has
to
be
probably
multifaceted.
E
D
But
at
the
moment
regen
network's,
proposing
something
that's
got
a
shorter
period
from
you-
know,
investment
to
payback
for
that
transition
to
other
methods
that
we
are
pursuing.
Other
markets
that
we
are
participating
in,
so
that
in
itself
helps
to
make
that
transition
and
the
other
thing
that
will
help
trans
make.
A
B
Yeah,
I
think
I
think
the
thing
to
recognize
right
now
is
we're
in
the
early
stages
of
this
market
is
that
the
conditions
are
going
to
change
very
quickly.
We
know
that
banks
and
financial
institutions
are
recognizing
natural
capital
risk
and
climate
risk.
We
know,
there's
a
recognition
of
the
trillions
and
trillions
of
dollars
of
stranded
assets
that
are
posing
a
risk
to
in
countries
and
in
the
private
sector
around
the
world.
B
You
know
strongly
confirmable
that
are
immutable
records
that
really
get
around
or
solve
some
of
the
problems
of
double
counting,
we'll
see
more
innovation
in
the
lending
side.
So
in
particular,
I
think,
as
we
see
farmers
and
ranchers
locking
into
long-term
forward
contracts
for
future
carbon
credits,
we'll
see
that
opportunity.
So
what
we
do
know
is
in
the
fossil
fuel
sector.
Carbon
risk
right
now
is
being
assessed
at
at
a
level
of
30
dollars
per
ton
internally,
so
we
know
that
there
is
a
risk
assessment,
that's
much
higher
than
market
prices.
B
So
I
think
in
the
coming
years,
as
as
paris
agreement
takes
effect,
we
will
see
that
price
dynamic
increase
and
we
will
start
to
see
some
positioning
in
in
the
lending
institutions
to
to
leverage
against
carbon
carbon
assets
and
move
in
the
direction
of
financing
that
can
support
project
funding.
Upfront.
A
Thanks
jim
that's
great,
I
had
a
question
from
howard
here
and,
and
he
asked
how
important
are
the
concepts
of
additionality
and
permanence
in
the
ability
to
monetize
monetize
carbon
credits
and
and
whoever
chooses
to
answer
it.
If
you
could
just
for
context
just
quickly
define
additionality
and
permanence.
C
B
So,
additionality
there's
a
lot
of
debate
around
this
topic.
There
are
a
lot
of
different
ways
of
defining
it.
It's
it's
important
to
look
at
in
additionality.
It's
important
to
look
at
what
the
baseline
is
of
the
carbon
dynamic
with
within
whatever
system
we're
talking
about
so
so
take
a
farmer
or
a
ranch.
B
The
the
question
we
would
ask
ourselves
in
assessing
additionality
is
what
would
be
the
carbon
dynamic
in
the
soil
if
the
project
that
we're
undertaking
did
not
happen
and
how
would
that
be
measured
now
in
soil
and
most
other
biotic
systems,
we
know
that
that
baseline
is
very
dynamic.
It's
not
going
to
be
staying
the
same,
so
it
becomes
a
very
complex
measurement
process
with
with
additionality,
then
we're
assessing
as
a
result
of
this
project.
B
Can
we
be
certain
that
the
project
itself
is
causing
changes
in
carbon
and
to
what
extent
are
those
changes
in
carbon
stocks
happening
compared
to
the
dynamic
baseline?
So
you
can
see
in
the
complexities
of
this
definition.
It
requires
a
pretty
robust
information
system
in
order
to
assess
if
additionality
is
is
a
condition.
That's
present
one
of
the
things
that's,
I
think
in
some
ways
more
important,
though,
is
this
issue
of
permanence.
B
B
These
will
be
issues
that
we
engage
with
our
our
peer
review
experts
on
periodically
in
order
to
make
sure
that
we're
really
keeping
up
with
with
where
the
market
is,
and
then
we
want
to
make
sure
that
we
structure
contracts
that
are
flexible
enough
to
to
make
sure
that
if
there
are
any
questions
about
additionality
and
with
permanence,
that
the
buyers
and
stellars
still
have
a
strong
position
in
the
market.
So
one
of
the
reasons-
additionality
and
permanence
are
two
of
the
reasons
why
we've
in
stated.
B
One
solution
in
our
methodology
is
a
really
strong
buffer
mechanism
to
account
for
those
uncertainties,
so
making
sure
that
there
are
buffers
of
credits
that
we're
choosing
to
not
sell,
so
that
if
there
is
any
question
about
permanence
or
or
additionality
in
the
future,
we
can
use
those
buffers
to
adjust.
So
I
imagine
with
this
and
a
few
of
the
other
questions
we
could
go
in
a
lot
of
detail
on
the
technical
details.
A
C
Certainly,
they
need
some
sort
of
assurance
that
that
actual
act
has
taken
place
right,
some
sort
of
transparency
into
the
fact
that
this
is
real.
That's
actually
at
the
basis
of
why
we
started
regen
network
because
often
times
when
you
take
a
flight
somewhere
and
they
say,
do
you
want
to
offset
your
carbon?
You
you
check.
Yes,
you
have
no
idea
what
it
is
that
you
just
purchased
or
what
what
sort
of
form
that
carbon
wood
came
in
or
how
it
represents.
The
fact
that
you
have
now
offset
your
flight.
C
We
are
aiming
at
creating
creating
transparency
at
a
number
of
different
levels.
You
know
at
the
technological
level
with
the
blockchain,
so
you
can
see
the
transactions
and
at
the
methodology,
methodological
level,
which
is,
I
think,
is
what
this
this
question
is
so
in
the
documentation
associated
with
any
of
our
credits
is
a
publishing
of
our
methodology.
C
We
don't
publish
all
data
because
there
would
be
a
huge
amount
of
data
and
there
is
also
privacy
concerns
associated
with
it,
but
we
are,
from
my
perspective,
moving
the
bar
up
in
terms
of
helping
give
the
end
client
a
sort
of
reassurance
that
that
this
carbon
has
actually
been
sequestered.
As
it
has
said,
it's
been
done
so
on
a
more
technical
level,
we're
doing
the
monitoring
that
is
called
out
from
the
methodology.
C
A
Thank
you,
christian
there's,
a
question
from
simon.
Is
there
demand
for
the
ecosystem
service
on
a
stand-alone
basis,
separated
or
separate
from
the
carbon
credit
itself?
So,
and
I
open
this
up
to
toby
or
julie
or
anyone,
who's
go
or
james.
Anyone
who's
got
a
thought
on.
You
know,
do
ecosystem
services
without
the
carbon
do
they
have
value
on
a
market
level.
D
D
Is
it's
but
it's
grouping
of
those
co-benefits
into
one
transaction
and
a
pursuit
of
extra
value
for
the
credit,
because
of
those
co-benefits
and
that's
something.
That
else
is,
you
know,
that's
replicated
elsewhere
and
there's
other
examples
in
australia
in
regulatory
markets
where
a
carbon
credit
can
be
paired
with
biodiversity
credit
as
well,
for
you
know
substantial
uplift
in
value,
and
you
know
with
the
co-benefits
that's
something
regent
network
is
pursuing
as
well
and
again
it's
all
about
that
choice.
A
A
To
chime
in
on
that,
one
too,
if
it
helps
yeah
hold
on
just
sec,
do
we
have
22
minutes
folks?
I
just
want
to
let
you
know
that
we
are
going
to
use
all
all
of
our
time
here
today,
go
to
3,
30
strong
and
try
to
get
to
as
many
of
these
as
possible,
and
I
will
copy
the
q
a
and
see
if
we
can
get
all
the
answers
typed
out
for
those
that
are
not
answered
live.
So
thank
you
again
for
your
patience,
jen.
B
Yeah
I
appreciate
toby's
point
on
choice
and
and
in
particular
highlighting
you
know.
Biodiversity
credits
are
one
of
the
clearest
examples
where
there
are
standalone
markets
in
australia
and
other
locations
around
the
world.
I
I
think
we're
going
to
see
more
and
more
motion
in
the
realm
of
these
ecosystem
service
markets.
There
are
models,
as
I
mentioned
earlier,
in
nutrient
trading,
water
supply,
water
quality,
biodiversity
and
several
other
areas.
B
So
one
of
the
ones
I'm
excited
about,
for
example,
is
it's
fairly
obvious
that
a
regenerative
agriculture
operation
as
we
actually
look
at
them
over
time,
whether
it
be
crop
based
agriculture
or
livestock,
has
a
profound
effect
on
water
infiltration
and
reducing
flood
risk
in
downstream
areas.
We
haven't
really
seen
a
huge
emergence
of
ecosystem
service
markets
in
the
realm
of
flood
protection,
because
we
haven't
really
had
a
clear
information
source
as
to
what
land
management
practices
can
be
measured
as
having
a
positive
impact
on
flood
protection.
B
Now,
as
we
look
at
how
how
we're
actually
able
to
measure
and
assess
and
quantify
and
monetize
carbon
in
agroecological
systems,
we
have
that
information
stream,
and
so
I
think,
not
only
just
standalone
ecosystem
service
markets
where
there
already
is
value.
I
think
the
big
opportunity
is
taking
ecosystem
services
beyond
just
a
co-benefit
and
an
add-on,
and
actually
seeing
bundled
ecosystem
service
value
through
innovations
like
carbon
plus
and
the
information
systems
that
we're
developing.
E
I
would
just
like
to
chime
in
you
know.
I
mentioned
that
I'm
working
with
the
savory
institute
with
ecology,
outcome,
verification
and
we're
trying
to
crack
the
net
as
well.
In
terms
of
how
do
we
attach
these
benefits
to
the
end
consumer
in
terms
of
the
meat
they
buy,
the
leather
they
wear
the
wool
and
making
great
progress
with
that
and
blockchain
is
a
really
important
technology
to
help
with
that.
E
It's
like
a
truth
machine
to
get
from
the
animal
and
the
land
all
the
way
to
the
end
consumer,
and
so
I
think
it's
a
really
parallel
situation
in
terms
of
you
have
a
product.
So
for
us
it
might
be
meat
wool
carbon,
and
how
do
we
attach
these
benefits
to
it
as
it
travels
through
that
chain,
and
I
think
it's
part
of
the
whole
ecosystem,
maybe
of
how
we
monetize
what
we're
doing
so.
I
just
wanted
to
throw
that
in
as
well.
A
C
Sure
I'm
happy
to
start
here
that
this
we
are
operating
in
the
voluntary
markets,
which
is
also
where
vera
vcs
gold,
standard
or
skeleton
are
also
operating
there.
There's
a
there's
a
misconception
by
a
lot
of
folks
that,
like
gold,
standard
standard
gold
standard,
is
just
a
really
good
name
for
that
company.
It
gives
people
the
idea
that
it's
a
standard.
C
So
we
get
that
question
a
lot
they're
like.
Are
you
following
the
gold
standard
like
no
we've
produced
our
own
methodologies
just
like
they
have
and
then
publish
those
get
a
get
some
peer
review
associated
with
them,
respond
to
really
tough
questions,
make
sure
that
we're
actually
doing
the
science
in
a
very
rigorous
way
and
issue
credits.
Based
on
that,
so
one
thing
that
I
will
acknowledge
here
is:
is
you
know,
first
to
market
advantage,
vera
and
gold
standard
are
known
by
by
the
entire
market.
C
They're
known
they're
trusted
from
a
corporate
risk
perspective
a
corporation.
Is
it
feels
like
a
pretty
easy?
Yes
for
them
to
to
purchase
a
credit,
that's
produced
by
vera
or
gold
standard,
because
the
market
has
already
validated
that
those
companies
are
doing
doing
good
work?
Regen
network
is
innovating
in
some
really
important
ways.
C
At
some
point
we
will
be
one
of
the
players
in
the
markets,
it's
just
as
well
accepted
as
the
others,
but
for
now
we're
going
to
have
to
go
through
that
gray
area,
where
people
give
a
little
bit
of
extra
look
a
little
bit
of
extra
questioning.
Have
ours,
have
our
science
really
questioned
in
and
out,
and
we
totally
invite
that,
because
our
methodologies
are
just
as
rigorous.
A
C
I
don't
know
if
anyone
else
wants
to
take
that
I
could
take
that
a
little
bit
so
I've
been
on
you
know,
literally
a
hundred
sales
calls
with
various
different
corporations
reaching
out
to
them
talking
to
them
about
these
carbon
plus
credits
and
a
response
that
we've
gotten
a
number
of
times
from
companies
is
that's
really
cool.
Could
we
do
that
in
my
supply?
C
You
know
they're
talking
about
in
setting
basically
right
and
so
they're
really
interested
in
potentially
putting
money
up
front
to
help
monitor
verify
report
on
the
the
baseline
and
ongoing
carbon
changes
of
the
agricultural
systems
within
their
supply
chain.
Oftentimes.
They
say
we
don't
need
the
the
the
formality
of
actually
issuing
credits.
They
just
want
to
be
able
to
claim
those
carbon
changes
on
their
scope,
3
accounting
for
their
company.
C
As
james
was
saying
earlier,
I
earlier.
I
absolutely
expect
these
markets
to
mature,
to
the
point
where
we
have
enough
data
to
understand
that,
when
a
ranch
employs
specific
best
management
practices
on
that
land,
there's
enough
data
to
to
have
a
strong
assumption
that
that
is
going
to
translate
into
carbon
sequestration
and
then
the
sale
of
those
credits.
And
when
that
market
validation
is
there,
we
then
clearly
have
a
place
for
for
lending
opportunities
and
impact
investing
opportunities
to
play
that
provision
of
capital
role
up
front.
C
D
D
Us
educating
the
market
as
well,
so
as
the
market
improves,
those
transactional
costs
will
come
down,
which
means
more
people
can
participate,
but
perhaps
the
market
and
james
might
know
more
here.
Perhaps
the
market's
not
aware
of
some
of
the
transitional
costs
that
julie
was
talking
to
exist
and
and
therefore
you
know
there
is
a
requirement
for
mechanisms
to
be
made
to
help
farmers
make
that
transition.
So
you
know
we
need
to
make
the
market
aware,
through
platforms
like
region
network,
that
that
some
of
those
barriers
may
exist.
A
B
B
As
you
know,
by
including
the
carbon
or
the
carbon
plus
the
ecosystem
service
values
in
the
story
of
their
product
or
service,
we
will
see
some
of
some
more
interest
in
those
collaborative
financing
models,
as
risk
analysis
gets
more
advanced
and
especially
as
buyers
get
into
forward
contracts
or
recognizing
that,
by
by
engaging
in
some
sort
of
futures
position
for
a
future
carbon
credit
flow,
they
may
actually
be
able
to
reduce
their
costs
over
time
than
than
delaying
purchasing.
I
think
they'll
be
looking
for
for
ways
to
engage.
B
The
the
good
news
about
the
regen
system
is
we're
not
just
tailoring
our
systems
to
support
a
single
credit.
We're
designing
a
comprehensive
system
supported
by
the
blockchain
that
gets
at
the
underlying
ecosystem
process
and
function,
dynamics,
the
ecological
outcomes,
data
systems
and
information
systems
that
can
support
innovation
in
a
wide
range
of
credit
opportunities,
and
I
think
that's
that's
going
to
be
what's
needed
in
order
to
support
the
kind
of
innovation
in
in
collaborative
financing.
Models
like
like
the
ideas
we're
discussing
today,.
A
E
The
way
we
value
those
people
in
the
communities
is
is
really
stark,
so
you
know
we
struggle
to.
We
struggle
to
keep
people
on
the
land.
Quite
frankly,
and
so
that's
the
question
I
kind
of
come
into
this
call
with
and
also
leave,
and
if
I
could
have
spoken
to
socioeconomic
plusses
for
carbon
plus,
I
would
have,
but
I'd
like
to
challenge
us
all
to
think
about
that.
We're
just
learning
the
nature
of
those
challenges.
E
I've
been
here
my
whole
life,
but
I'm
still
learning
the
nature
of
the
socioeconomic
challenge,
and
that's
that's
both
the
people
who
are
producing
the
agriculture
outputs,
but
also
the
people
consuming
the
agriculture.
Is
there
a
nutrition
measure?
Is
there
a
you
know,
calories
or
or
nutrient-produced
measure?
Certainly
it
seems
like
we
could
and
should
be
thinking
about
questions
like
that.
So
I
think
it's
worth
keeping
top
of
mind.
I
appreciate
the
question.
D
D
And
comparing
that
to
often
prices
for
their
commodities,
not
changing
in
reflection
of
those
increasing
costs
of
inputs
all
while
operating
in
a
more
and
more
challenging
climate.
So
from
a
social
point
of
view,
our
farms
and
ranchers
operate
with
lower
inputs
are
building
resilience
into
their
farm.
D
Respond
to
adapt
to
this.
This
changing
climate
and
also
be
more
resilient
to
that
changing
climate,
whilst
also
producing
a
new
commodity
or
range
of
commodities,
ecosystem
services
that
if
we
can
reward
them
for,
I
think,
you're
improving
the
socio-economic
condition
of
those
farmers
behind
the
farm
gate.
Absolutely
it
has
a
inherent
inbuilt
social,
economic
benefit
and
ecosystem
service
credit
going
to
a
farmer
or
rancher.
E
So
I
I
mean
as
a
producer,
it
can
feel
a
little
sometimes
inundating
all
the
programs
that
that
try
to
do
that.
So
I'll.
Just
weigh
in
that
that's
an
ongoing
project,
and
this
feels
like
it
fits
within
that
in
terms
of
measuring
carbon
and
the
ecosystem
outcomes
that
go
with
carbon
along
the
chain
to
the
consumer
for
sure.
D
So
a
branded
product
for
that
ultimate
value
increase
is
the
end
game
for
some,
but
it's
it's
certainly
not
the
end
game
for
all
agricultural
producers.
It's
just
comes
back
to
that
point.
I've
touched
on
a
few
times
today
around
providing
choice
for
those
producers.
Some
will
have
a
enterprise
that
facilitates
a
branded
product.
Others
are
going
to
producing,
produce
a
a
just,
a
commodity
product
into
a
commodity
market
and
that's
okay.
What
we're
trying
to
do
here
is
he's
turned
carbon
into
a
commodity
market
as
well.
Thanks.
C
Low
margin
business
to
be
a
brand
selling,
you
know
whatever
it
might
be,
potato
chips
or
juice
or
beef
or
and
so,
and
a
lot
of
those
brands
that
are
on
the
on
the
front
edge
of
environmental
friendliness
have
already
added
premiums
to
the
level
that
they
think
is
going
to
be
able
to
be
to
that
for
their
consumers.
They've
already
said
this
is
organic.
This
is
fair
trade.
You
know
you're
already
getting
the
best
and
they've.
You
know
bumped
up
the
price
a
little
bit
for
that.
C
C
Could
be
a
little
barcode
that
you
could
scan
and
you
could
actually
claim
those
carbon
credits
for
yourself
and
have
them
show
up
in
your
in
your
digital
wallet.
It's
this
is
a
functionality
that
blockchain
actually
does
a
great
job
in
making
possible,
and
then
the
person
could
claim
those
credits
come
right
in
and
see
the
details
of
a
farm
like
wilmot
farm
and
how
the
the
managers
of
ranching
that
farm
and
what
what
amount
of
carbon
was
sequestered
over
time,
etc.
C
B
Yeah,
I
think
this
is
one
of
the
most
exciting
parts
and
we've
touched
on
it
earlier
in
terms
of
white
labeling
in
setting
you
know,
bespoke
credit
systems.
I
I
think
bet
better
than
just
the
notion
that
a
price
premium
could
be
applied
and
there
could
be
a
special
system.
That's
designed
is
there's
a
clearer
sense
of
of
how
that
value
dynamic
is
actually
happening.
Every
product
in
the
world
now
is
giving
you
a
story
about
their
sustainability
or
their
regenerative
impacts.
B
I
think
it
speaks
perfectly
to
what
julie's
mentioning
too
about
mentioned
earlier,
about
not
just
responding
to
to
lagging
indicators,
but
also
then
leading
indicators
that
there
can
be
a
much
broader
presentation
of
the
story
of
the
exact
management
practices
that
are
changing.
How
those
are
speaking
to
leading
indicators,
lagging
indicators
and
exactly
how
much
they're
changing
in
a
quantified
way.
A
A
I
think
at
least
three
different
time
zones
on
here
through
you
know,
different
parts
of
the
world
and
super
grateful
for
all
of
you
joining
us
today
to
get
a
help,
share
a
vision
for
the
carbon
plus
credit
and
what
regen
network
is
doing
and
for
all
of
you
attending
for
who
are
out
there
in
the
field
or
on
the
land
or
in
the
boardroom,
trying
to
make
a
better
world
in
whatever
way.
You
know
how.
A
So
for
those
of
you
who
are
interested
in
further
information
for
those
of
you
who
are
interested
in
selling
credits,
please
go
to
regen
network.
You
can
go
to
list
your
project
or
sign
up
and
it'll.
Take
you
to
place
where
you
can
enter
your
information
and
as
we
move
to
our
next
phase
and
on
the
in
our
technology,
you'll
be
able
to
list
projects
and
qualify
to
be
able
to
sell
credits
on
the
regen
registry
and
for
those
of
you
interested
in
buying
carbon
credits.
A
The
carbon
plus
credit
is
out,
and
we
are
having
one-on-one
conversations
with
our
sales
team
to
figure
out
how
to
get
you
and
to
a
clean
way
to
meet
your
climate
goals
via
the
carbon
plus
credit
and
our
partnerships
with
impact
ag
so
really
exciting.
Work
here,
team
really
appreciate
everyone's
attention
today
and
remember
go
to
regen.network,
and
if
you
have
questions,
please
follow
up
with
us
directly
or
find
us
on
the
internet,
but
in
the
meantime
appreciate
everyone's
time
and
energy
today
and
have
a
great
one.