Bayer AG launched a pilot program in the United States and Brazil on Tuesday that will pay farmers for capturing carbon in cropland soils, making it the latest agriculture company to capitalize on environmental initiatives. The company seeks to enroll about 1,200 row crop farmers in its Bayer Carbon Initiative in the first season, scale up in upcoming seasons, and ultimately expand to other countries, company executives said.
In Brazil, Bayer expects to invest 5 million euros ($5.76 million) via the program over three years, the company said in a separate statement in Portuguese. Executives declined to disclose the overall program cost in both countries.
