The Soil and Water Outcomes Fund, a leading agricultural ecosystem services program, is proud to announce they successfully began a pilot project with Chevron Renewable Energy Group, a wholly owned subsidiary of Chevron Corporation, as part of the larger Midwest Climate-Smart Commodity Program. This initiative represents a notable step toward integrating biofuels into sustainable agriculture outcomes, contributing to the overall goals of the program, which is supported by $157 million in combined funding from the USDA and corporate partners.
Building on the success of this pilot and other initiatives, the Soil and Water Outcomes Fund continues to grow its opportunities for farmers and its environmental impact through its innovative financing approach of supply chain partnerships. The growing program in conjunction with all participants is anticipated to enroll over 850,000 acres across 19 states in 2024, paying more than $28 million to farmers during its fifth enrollment season. Farmers enrolled in the program can implement conservation practices such as reduced tillage, cover crops, extended crop rotations, and fertilization management to help improve soil health, reduce erosion, and more.
While this pilot project is a small piece of the larger puzzle, the collaboration between Chevron Renewable Energy Group, a leading biodiesel and renewable diesel producer, and the Soil and Water Outcomes Fund showcases how biofuels can play an important role in advancing the adoption of voluntary, regenerative agriculture practices that generate verifiable scope 3 greenhouse gas emission insets and water quality improvements.
“This collaboration with Chevron is a promising step forward in exploring the possibilities within the biofuels sector,” said Adam Kiel, co-managing director of the Soil and Water Outcomes Fund. “We are thrilled with the progress we’ve made as part of this collaboration, as it not only supports farmers in their sustainability journey, but it also lays the groundwork for the potential growth of climate-smart agriculture within the biofuels industry.”
As part of the program, farmers can enroll their acres and receive support in transitioning to climate smart agricultural practices. The financial investment from Chevron is focusing on acres within 100 miles of their Mason City, IA and Newton, IA biodiesel production facilities. The goal for the program was to enroll 5,000 acres for the 2025 growing season and to date the project has exceeded that goal.
“We believe climate-smart agricultural practices will have an important role to play in the future of the biofuels industry,” said Neville Fernandes, Vice President of Corporate Affairs at Chevron Renewable Energy Group. “We are happy to support the work the Soil and Water Outcomes Fund is doing to help educate and support Iowa farmers as they integrate climate-smart agriculture into their own operations.”
The Soil and Water Outcomes Fund has reached its capacity for 2024, and farmer enrollment is now closed. Enrollment will reopen next spring and interested farmers and landowners can visit www.theoutcomesfund.com to learn more about the program and join the waitlist. Inquiries can also be sent to contactus@theoutcomesfund.com.
