First Carbon Revenue Payments Distributed to South African Farmers
Farmers in South Africa have received R2.7 million from the GRASS project, marking a significant step in carbon finance. This initiative links sustainable agriculture with economic development, showcasing the potential for carbon markets to generate income for rural communities while promoting environmental restoration.
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The GRASS project in South Africa has distributed R2.7 million to 15 farming communities from its initial sale of verified carbon credits. This project, initiated by TASC and Meat Naturally Africa, aims to restore over 95,000 hectares of grassland through regenerative practices, involving around 180 communities and nearly 10,000 farmers.
The issuance of 266,254 Verified Carbon Units has validated the initiative's climate, social, and biodiversity outcomes. GRASS is structured to ensure that communities receive a significant share of carbon revenue, targeting over 50% in the first decade and up to 80% by year 20.
The project also aims to expand to two million hectares by 2030, with a goal of mitigating 14 million tonnes of CO₂e within 30 years. Enhanced economic opportunities include R56.4 million earned through improved access to markets, emphasizing the connection between environmental restoration and agricultural productivity.
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