Inside a 4.45 Million Tonne Soil Carbon Deal

Google has signed its biggest rice methane deal, around a million credits through 2030, with Mitti Labs. Rice produces more than 12% of global methane emissions and uses over 30% of irrigated water, and most of it is grown by about 150 million smallholder farmers on plots of around a hectare.

Adrian Wons and Dan Harburg are joined by four guests this episode.

Xavi Laguarta, Co-Founder of Mitti Labs, on how alternate wetting and drying cuts methane by more than half, why falling water tables are what actually convince farmers, and why satellite radar, not sensors, is the only way to measure rice methane at scale.

Michael Bertelsen, Head of Carbon Markets at Agreena, on the company's 4.45 million tonne soil carbon deal in northern Kazakhstan: around 1.6 million hectares by 2028 under Verra's VM42, and what it takes to convince buyers that regenerative agriculture delivers.

Antti Vihavainen (Co-Founder and Vice Chairman, Puro.earth) and Chris Neidl (Carbon Removal Lead, Climate High-Level Champions) on Think Negative and carbon removal at COP31: the first ITMO transaction for geologically stored carbon, why climate accounting was never built for removals, and why countries can use any credit when companies can't.

Also on the desk: Sylvera gives Deep Sky One an AAA-A in its first pre-issuance DAC rating, and buyers have already committed 81% of this year's high-quality biochar supply.

Carbon prices this week: Mangroves $31.07 (flat), ARR $22.27 (+4.85%), IFM $19.11 (+4.20%), REDD $8.54 (flat), CORC EUR150.40 (+8.71%), DAC $540, BECCS $180, ERW $210.

Chapters

0:00 Cold open

0:36 Titles

0:42 Welcome: the pre-New York Climate Week news rush

2:14 Agreena's record 4.45M-tonne soil carbon deal

3:22 Michael Bertelsen, Agreena: how the Kazakhstan deal came together

6:51 What does a Kazakh farmer actually change?

9:30 Who is the buyer?

10:36 How do you convince buyers regenerative agriculture delivers?

13:22 Who runs the MRV on a project this size?

14:41 Verra VM42 or Isometric for soil carbon?

19:02 What's next for Agreena?

20:43 Think Negative: carbon removal at COP31

21:06 Antti Vihavainen, Puro.earth, and Chris Neidl, Climate High-Level Champions

22:52 Why does COP31 matter for carbon removal?

24:52 Will COP change how companies buy removals?

26:41 Is biochar the gateway to durable CDR?

29:31 Can Article 6, the EU ETS and CORSIA take durable removals?

32:35 The first ITMO deal for geologically stored carbon

34:27 Why can countries use any credit when companies can't?

36:34 Net zero claims under the Empowering Consumers Directive

38:45 The one policy change that would move CDR most

42:09 How to get involved with Think Negative

45:05 Sylvera rates Deep Sky One AAA-A: who is a pre-issuance rating for?

51:50 Will AI read a rating as proof of quality?

52:47 The biochar supply crunch: 81% committed by July

55:13 Spot or offtake: selling credits like a grain trader

59:55 Google and Mitti Labs: 1M credits from rice methane

1:02:11 Xavi Laguarta, Mitti Labs

1:02:53 Why does rice farming create so much methane?

1:05:18 How alternate wetting and drying halves methane

1:06:26 How do you reach 150 million smallholder farmers?

1:09:09 Why water gets farmers on board

1:10:20 When do farmers get paid?

1:12:47 Gold Standard or Isometric?

1:14:31 Are US buyers keener on methane than Europe?

1:17:56 Satellites or sensors: measuring rice methane at scale

1:21:14 Removal-only buyers, and why the C-suite loves peatland

1:26:19 Water as the next reason to buy

1:28:00 Wrap

Links

- Agreena's record Kazakhstan soil carbon deal — https://carboncredits.com/agreena-record-soil-carbon-deal-kazakhstan/

- Google and Mitti Labs, 1M credits from rice methane — https://www.esgdive.com/news/google-deal-to-generate-1m-carbon-credits-from-cutting-methane-emissions/830305/

- Sylvera's first pre-issuance DAC rating, Deep Sky One — https://carbonherald.com/deep-sky-one-labeled-aaa-a-in-sylveras-first-ever-pre-issuance-dac-rating/

- Biochar supply committed early in 2026 — https://carbon-pulse.com/548363/

- Think Negative — https://think-negative.org

Tags

carbon markets, carbon removal, CDR, rice methane, alternate wetting and drying, Mitti Labs, Google, superpollutants, soil carbon, regenerative agriculture, Agreena, Kazakhstan, Verra VM42, Isometric, Gold Standard, Puro.earth, COP31, Think Negative, Climate High-Level Champions, Article 6, ITMO, direct air capture, Deep Sky, Sylvera, carbon ratings, biochar, Supercritical, voluntary carbon market, Senken, Mombak