Agreena’s 2.3 million European soil carbon credits receive BBB ex-post rating from BeZero
Independent carbon ratings firm BeZero Carbon has assigned a BBB ex-post rating to the AgreenaCarbon Project after the Danish regenerative agriculture company delivered 2.3 million Verified Carbon Units on schedule and in line with its pre-issuance projections, placing it among the top five projects globally in the soil-related agricultural category, Agreena and BeZero.
The ex-post rating is issued on the basis of verified monitoring data and actual project performance rather than projections or modelling carried out before credits are issued, making it a more demanding standard than the forward-looking assessments that dominate much of the voluntary market. BeZero Carbon uses an eight-point scale running from AAA to D. The BBB rating assigned to AgreenaCarbon indicates a high probability that the project’s credits represent genuine, additional and verifiable tonnes of carbon dioxide equivalent avoided or removed. The rating was formally assigned on 20 July.
The AgreenaCarbon Project is registered under Verra’s Verified Carbon Standard using methodology VM0042, the improved agricultural land management protocol. It operates across 1.6 million hectares of regenerative farmland in ten European countries, spanning from Ukraine to Spain, and generated its first issuance of 2.3 million VCUs in September 2025, which comprised 1.2 million tonnes of CO2 reduced through changed farming practices and 1.1 million tonnes of CO2 removed through soil carbon sequestration. Buyers of the initial issuance included Radisson Hotel Group, Ryanair and other corporate purchasers.
BeZero described the confirmation that AgreenaCarbon has performed in line with its pre-issuance estimates as a meaningful signal in a market where soil carbon project delivery has sometimes lagged expectations due to measurement uncertainty and the challenge of verifying distributed agricultural activities at scale. Agreena uses satellite imagery, machine learning and sensor networks as part of a digital measurement, reporting and verification approach. The rating is the first ex-post assessment of a large-scale arable soil carbon project of this type.
The announcement arrives at a moment when Verra’s own VM0042 methodology is undergoing a major revision towards version 3.0. As the governing standard for Agreena’s credits, any changes arising from that process will affect the credibility framework within which future issuances occur. The BBB ex-post rating provides an independent data point on actual performance under the existing methodology that market participants can use as a benchmark for the evolving soil carbon sector.
