CF Industries sells carbon credits to Chevrolet and donates proceeds to FFA
DEERFIELD, Illinois – CF Industries Holdings, Inc. (NYSE:CF), a global leader in nitrogen fertilizer manufacturing, has completed the sale of a large block of carbon reduction credits to Chevrolet. CF Industries will donate the net proceeds of $600,000 to the National FFA Foundation to support excellence in farmer education and fertilizer best management practices.
CF Industries generated the carbon credits by voluntarily implementing nitrous oxide abatement technologies to reduce greenhouse gas emissions. The company began implementing the abatement technologies in 2008.
“Our products help farmers feed the world and this unique transaction will benefit a great organization teaching the next generation of farmers how to succeed,” said Tony Will, CF Industries’ president and chief executive officer. “This is a first-of-its-kind undertaking for our industry, and we are pleased to partner with Chevrolet in support of America’s future farmers.”
CF Industries supports educational programs that promote fertilizer best management practices, including the 4R Nutrient Stewardship Program, to teach farmers how to apply the right fertilizers at the right rate, at the right time and in the right place. The fertilizer industry is an important part of modern agriculture, helping farmers to achieve the high-yield harvests essential to our growing global population.
FFA’s Chief Executive Officer Dr. W. Dwight Armstrong said, “CF Industries believes in the science-based curriculum and experience model of FFA and agricultural education. We are thrilled they are building on their history of support for FFA by using these carbon credits to help the next generation of agricultural leaders.”
The National FFA Organization provides leadership, personal growth and career success training through agricultural education to 579,678 student members in grades seven through 12 who belong to one of 7,570 local FFA chapters throughout the U.S., Puerto Rico and the Virgin Islands.
Through Chevrolet’s voluntary Carbon Reduction Initiative, the brand committed to purchase up to 8 million tons of carbon credits from a variety of clean energy projects and technologies in communities across the United States. Chevrolet retires the carbon credits for the benefit of the environment, meaning they will not be used to offset emissions related to specific Chevrolet operations or products — or those at any other site.
“Beyond building fuel-efficient vehicles and reducing the environmental impact of our manufacturing facilities, Chevrolet seeks to support innovative, carbon-reducing projects that people around the U.S. are implementing,” said David Tulauskas, GM sustainability director. “CF Industries is a great example. The company is working not only to reduce the environmental impact of the fertilizer manufacturing process, but to strengthen the next generation of farmers with the latest knowledge about responsible agricultural practices.”