A new pilot program, the New York Outcomes Fund, was launched at the 2023 Corn & Soybean Winter Expo in January. It is a partnership of the Cornell Atkinson Center for Sustainability, the NY Corn and Soybean Growers Association, the Soil and Water Outcomes Fund, and Cornell Extension.
The New York Outcomes Fund will provide financial incentives directly to farmers who transition to conservation practices such as no till and cover crops that yield positive environmental outcomes like carbon sequestration and better water quality. The resulting verified outcomes are sold to a diverse group of public and private beneficiaries, including corporations, municipalities, state departments of agriculture, and the federal government.
The pilot was received enthusiastically by over 250 farmers in the audience, the majority of whom filled out a survey indicating their interest. This will be the first of its kind in New York State.
Over the past two years, Alan Martinez, senior manager for strategic partnerships at Cornell Atkinson, and his team, with support from Cornell Cooperative Extension, have talked with more than 300 farmers and their partners, as part of the Transition Finance for Regenerative Agriculture Systems project, which was developed in partnership with the Great Lakes Protection Fund.
“Alan and his team, along with members of our board, have worked hard to produce a pilot program that is the right fit for New York growers. We’re committed to setting an example when it comes to sustainability and this program will help us do just that,” said Colleen Klein, executive director, New York Corn and Soybean Growers Association.
“The partnership we are proposing today is the beginning of a journey and I’m excited to get to work and make sure we’re doing our part in making New York a leader in the production of not just corn and soybeans but environmental outcomes too,” said Alan Martinez, senior manager of strategic partnerships, the Cornell Atkinson Center for Sustainability.
A key partner in the project, Soil and Water Outcomes Fund, has enrolled over 240,000 acres of cropland across a dozen states since 2020. Contracted farmers adding new conservation practices such as cover crops, extended rotations, and reduced tillage received an average payment of $31 per acre last year for implementing new conservation practices.
“The Soil and Water Outcomes Fund is excited to partner with Cornell, NY Corn and Soy, and New York producers to scale adoption of new regenerative practices that benefit the environment, soil health, and long-term farm income,” said Dan Yeoman, managing director, Soil and Water Outcomes Fund.
Following the enthusiasm from farmers in participating in the pilot, the team is currently seeking funding from corporate partners and government stakeholders to support the project’s expansion. In addition, they are also exploring how the project might uniquely pay farmers for the biodiversity benefits of implementing these practices. This innovative approach highlights the leading role that the pilot is playing.
For information about NY Outcome Fund, contact Jarmila Haseler, Agriculture Program, CCE-Monroe at 585-573-2565 or email jh954@cornell.edu.
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