LHV, eAgronom team up on carbon credit program for Estonian farmers

eAgronom has entered into strategic cooperation with LHV, the largest domestic financial group and capital provider in Estonia, leveraging the eAgronom Carbon Program to further the bank’s path to climate neutrality, said in an announcement.

The partnership between the Estonian organisations centers on the new eAgronom Carbon Program, which cooperates with farmers to develop climate-smart initiatives that can improve soil health, productivity, and profit.

By purchasing carbon credits through the program, companies like LHV can offset their carbon footprint by supporting not only greenhouse gas reduction but also sustainable food production with farmers.

According to Robin Saluoks, CEO of eAgronom, 15% of the world’s greenhouse gases come from crop production, but this can be reduced through restorative agricultural practices.

“Soil is the largest ‘carbon bank’ other than the ocean, and sequestering carbon in the soil is essential to avoid a climate catastrophe and the economic damage it will cause. eAgronom’s carbon program provides a support mechanism for farmers to improve the quality of their soils. By joining our program, LHV and other companies can purchase carbon credits to make their operations climate neutral or even climate positive,” said Saluoks.

According to the Head of ESG at LHV Ragne Maasel, LHV is determined to offset the carbon emissions associated with its office operations that cannot be avoided or reduced, and the eAgronom solution offers a good opportunity to engage in environmentally beneficial activities right here in Estonia.

“By offsetting a part of the carbon footprint of our office operations through the eAgronom pilot project, we have a good overview of how our operations meet all the criteria for offsetting and we can support the sustainability of local agriculture at the same time. With our support, farmers can carry out activities that are good for the environment which would otherwise remain undone,” said Maasel.

eAgronom is expanding its carbon program to provide Estonian farmers and beyond the capacity to advance sustainable farming practices that improve soil health and carbon sequestration.

Similarly, eAgronom makes offsetting accessible for organisations looking to use carbon offset credits on top of their efforts to reduce their emissions.