Sure. Thank you.
What we call 4R nutrient stewardship is based on the reduction of nitrous oxide emissions. It's also referred to as the NERP protocol. It's based on using the right amount of fertilizer, at the right rate, in the right place and at the right time. By doing that, we have huge opportunities to reduce greenhouse gas emissions that are currently accruing through fertilizer use. We can also reduce volatilization, runoff, etc.
It's basically matching up the exact prescribed plant nutrients that you need. That can change depending on whether you're at the top of a knoll, as we say in agricultural soils, on a mid-slope, or down at the bottom. We have the software, technology and variable-rate application so that you can change the rates all throughout. It's already pre-programmed before you get into that tractor and start driving.
It's an amazing technology. It's being implemented all around the world. It was designed and created, of course, here in Canada. It's time for us to recognize that these protocols exist. They need to be continually updated with the science, as our science evolves, but it represents just one opportunity that we've already employed in the agricultural systems. We just need to actually recognize it.
We're part of the way there. We just need to give credit where credit is due, and recognize that this is a carbon cycle. When it comes down to pricing carbon, absolutely, people respond when you hit them in their wallets. As we are trade-exposed sectors working on small margins, we need to actually look at where all of these advancements have been made. Absolutely, we're part of the solution.