Cows produce more greenhouse gas than aviation, shipping, and rail combined. The solution is apparently a pill.

Ruminant Biotech, a New Zealand startup, has built a bolus you give a cow once. It cuts methane from the animal's burps by 75% for 100 days. No repeat handling. No feed additives. One dose and the farmer gets on with their life.

The business model is where it gets interesting. A Nasdaq-listed commodities broker converts the reduced burps into carbon credits and sells them to corporates with Scope 3 commitments. The farmer gets paid. The broker takes margin. The cow participates involuntarily.

The climate finance industry spent a decade funding reforestation projects in countries with complicated governance. A livestock biotech from Auckland figured out how to monetize a bottom burp.