Press Release | February 3, 2023
Launch of new pilot project, New York Outcomes Fund, incentivizing farmers to implement regenerative agriculture practices
Partnership supports New York farmers’ efforts to produce and benefit from quantifiable environmental outcomes
Media Contacts:
Matt Lindsay: 202.425.1792, lindsay@theoutcomesfund.com
Dan Yeoman: 202.507.1312, yeoman@theoutcomesfund.com
ITHACA, NY—The New York Outcomes Fund, a partnership of the Cornell Atkinson Center for Sustainability, the New York Corn & Soybean Growers Association, and the Soil and Water Outcomes Fund, formally launched at the 2023 Corn & Soybean Winter Expo on January 19. The pilot project was received enthusiastically by over 250 farmers in the audience, the majority of whom filled out a survey indicating their interest in participating in the pilot.
Alan Martinez, senior manager for strategic partnerships at Cornell Atkinson and John Tobin, professor of practice in the Dyson School of Applied Economics and Management, have spent the past two years researching innovative financing strategies to help farmers adopt regenerative agricultural practices in the Great Lakes watershed.
“On behalf of the New York Corn & Soybean Growers Association, I am thrilled about the initial level of interest expressed by our growers at the 2023 Corn & Soybean Winter Expo. 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,” said Colleen Klein, executive director of New York Corn and Soybean Growers Association. “We’re committed to setting an example when it comes to sustainability and this program will help us do just that.”
The New York Outcomes Fund pilot provides financial incentives directly to farmers who transition to on-farm conservation practices such as no till and cover crops that yield outcomes like carbon sequestration and water quality improvement. The resulting verified environmental 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 will be the first of its kind in New York state. However, Soil and Water Outcomes Fund, a project key partner, has enrolled more than 240,000 acres of cropland across a dozen states, with contracted farmers adding new conservation practices such as cover crops, extended rotations, and reduced tillage. Farmers received an average payment of $31 per acre last year from the Soil and Water Outcomes Fund 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 of the Soil and Water Outcomes Fund.
Following the enthusiasm from farmers in participating in the pilot, the lead organization, Cornell Atkinson, is seeking funding from corporate partners and government stakeholders to support the project’s expansion. In addition, innovative research at Cornell University and supporting institutions is being used to explore 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.
“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 at the Cornell Atkinson Center for Sustainability.
About the New York Outcomes Fund
The NY Outcomes Fund harnesses the power of regenerative agriculture's multifunctional benefits for soil health, carbon capture, water quality, and biodiversity conservation. The Cornell Atkinson Center for Sustainability in partnership with the NY Corn and Soybean Growers Association and the Soil and Water Outcomes Fund co-created this program to prioritize the needs of producers that are ready to scale conservation practices on their farm operations. This pilot program was born out of the Transition Finance for Regenerative Agriculture Systems project funded by the Great Lakes Protection Fund. The project led by Alan Martinez and John Tobin at Cornell University investigates financial solutions for regenerative agriculture together with Cornell researchers, Cornell Cooperative Extension, and a national advisory group.
About the New York Corn and Soybean Growers Association
The New York Corn and Soybean Growers Association is a grassroots organization representing corn and soybean producers' interests. The Association works to develop and expand markets, educate members and consumers, and enhance public policy for corn and soybean growers in the Empire State. The Association sponsors research on corn and soybean production, utilization, and marketing; and hosts educational programs on management, production, and marketing. The Association is also a Qualified State Soybean Board and administers New York's soybean checkoff.
About The Soil and Water Outcomes Fund
The Soil and Water Outcomes Fund provides cost effective solutions for soil and water stewardship, using the leading biophysical models and scientifically rigorous approaches to quantify carbon sequestration and water outcomes while providing technical assistance to aid growers on their journey to increase profitability through sustainability. The Soil and Water Outcomes Fund is a partnership of AgOutcomes, a subsidiary of the Iowa Soybean Association, and ReHarvest Partners, a subsidiary of Quantified Ventures. AgOutcomes leads the agronomic and farmer relations elements of the operation, and ReHarvest Partners manages the financial and contracting aspects of the Soil and Water Outcomes Fund.
About Cornell Atkinson Center for Sustainability
The Cornell Atkinson Center for Sustainability is the hub of collaborative sustainability research at Cornell University, forging vital connections among researchers, students, staff, and external partners. The center’s funding and programming accelerate groundbreaking research within and across all of Cornell’s colleges and schools. In turn, the center is the university’s home to bold ideas and powerful new models that ensure people and the planet not only survive but thrive.