Curated News
By: NewsRamp Editorial Staff
May 09, 2024
Hempalta Acquires Majority Stake in Hemp Carbon Standard Inc., Boosting Carbon Credit Initiatives
TLDR
- Acquiring a controlling interest in Hemp Carbon Standard gives Hempalta a significant advantage in the carbon credit market.
- Hempalta's acquisition involves advanced remote sensing technology to measure CO2 sequestration in industrial hemp and topsoil, ensuring accuracy and transparency.
- Hempalta's pioneering efforts in producing carbon credits from industrial hemp contribute to environmental sustainability and promote regenerative agricultural practices.
- Hempalta's use of industrial hemp to sequester CO2 and produce carbon credits marks significant progress in environmental sustainability efforts.
Impact - Why it Matters
The acquisition of a majority stake in Hemp Carbon Standard by Hempalta is a significant development in the promotion of regenerative agricultural practices and the enhancement of corporate decarbonization strategies. This move will not only boost carbon credit initiatives but also contribute to environmental sustainability efforts, making it a crucial step towards achieving global sustainability goals.
Summary
Hempalta CEO Darren Bondar has announced the completion of the company's acquisition of a controlling interest in Hemp Carbon Standard, a move that will boost carbon credit initiatives and promote regenerative agricultural practices.
Hemp Carbon Standard is recognized for its ability to produce high-quality carbon credits from industrial hemp's lifecycle, offering corporate buyers a way to measure and enhance their decarbonization strategies. The company utilizes advanced remote sensing technology for precise CO2 sequestration measurement within the biomass of industrial hemp and its associated topsoil, ensuring transparency and accuracy in carbon accounting.
As of 2023, HCS has expanded its monitoring operations to include 15 farms and 45 sites across 1,380 hectares in Canada, the United States, Ukraine, and Spain, successfully sequestering 12,354 tonnes of CO2 and making significant progress in environmental sustainability efforts.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Hempalta Acquires Majority Stake in Hemp Carbon Standard Inc., Boosting Carbon Credit Initiatives
