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<\/figure><\/div>\n\n\n\nIn a bid to help rein in global warming, the London-based de Rosen founded ClimaFi<\/a> in 2022. ClimaFi has developed technology platforms that allow hemp farmers, among others, to take advantage of the global carbon credit market. \u200b\u200bCarbon credits allow farmers \u2013 and entities ranging from companies to countries \u2013 to emit a certain amount of carbon and can be traded if the full allowance is not used.<\/p>\n\n\n\n ClimaFi started with a project in the peatlands of the UK that sought to monitor, and ultimately reduce, carbon emissions that occur when the lands dry out over time. With a system of satellites, ClimaFi measures emissions and issues carbon credits.<\/p>\n\n\n\n The company\u2019s new Hemp Carbon Standard platform launched recently. It measures carbon sequestration and issues carbon credits to farmers, de Rosen says. <\/p>\n\n\n\n De Rosen says he became interested in hemp\u2019s ability to sequester CO2 when he began researching agricultural sources of sequestration to look for ClimaFi\u2019s next project. \u201cWe looked at winter rye, corn and other cover crops before finding hemp,\u201d he says. He recounts that when he came across industrial hemp, he realized the potential for much higher sequestration rates than those found with traditional agricultural crops. \u201cWe have found sequestration rates of up to five tons per acre, as opposed to one,\u201d he says.<\/p>\n\n\n\n The Hemp Carbon Standard qualifies farmers to participate by evaluating a range of criteria based on regenerative measures in place. The farmers are then compensated with carbon credits based on an assessment of their crops\u2019 sequestration rates using a process called monitoring, reporting and verification (MRV). <\/p>\n\n\n\n ClimaFi<\/a> uses two sets of precise numbers in the MRV process. The first set is generated by satellite technology Sentinel<\/a>, a mission run by the European Space Agency<\/a> that conducts high-resolution scans of land and coastal waters to collect information for agricultural monitoring and other ecological uses. <\/p>\n\n\n\n The second source of data is a series of meteorological stations called FLUX towers, which in the Northern Hemisphere are run by an organization called FLUXNET<\/a>. De Rosen explains that the towers deploy sensors to survey the landscape and the net CO2 emissions of an area. ClimaFi then combines the Sentinel satellite and FLUX tower data in a proprietary software algorithm that calculates the carbon sequestration taken up in the hemp biomass and the credits due. <\/p>\n\n\n\n \u201cThis is a scientific process, not modeling or estimation,\u201d de Rosen says, noting that this sets ClimaFi\u2019s Hemp Carbon Standard apart from other credit issuers.<\/p>\n\n\n\n A third-party auditor, Control Union, verifies the results of the calculation and, within 30 days, the farmer receives a carbon certificate, which can be held as an investment or sold through ClimaFi or on the open market. <\/p>\n\n\n\n