In the present day is Monday, March 18, 2024.
Just a few weeks in the past the India announced its Voluntary Carbon Market for Agriculture. And we promised our readers to publish extra particulars as quickly as we had them. Right here it’s: 68-page doc titled “Framework for Voluntary Carbon Market In Agriculture Sector” for the Ministry of Agriculture and Farmers Welfare.
In response to the report, fashionable instances require going past growing “yield per hectare” and likewise adopting sustainable practices, which not solely enhance farmers’ revenue, but additionally promote environmental administration.
Underneath the plan, farmers in India will have the ability to reap advantages by taking part in carbon credit score markets via carbon sequestration on their land:
- direct advantages: money incentives for sequestered carbon, from US$8.5 to US$12 per credit score. A mean farmer can sequester 2 to six credit per hectare.
- oblique advantages: enhancing soil, biodiversity, water administration, local weather resilience and temperature.
Right here is how India intends to advertise these initiatives, all nicely defined within the report:
- Nationwide Voluntary Carbon Market
- Carbon Credit score Buying and selling Scheme
- Inexperienced Credit score Program e
- Fee for Ecosystem Providers.
The chapter “VCM Registry for the Agricultural Sector” on web page 20 is extraordinarily vital. It cites present and well-known worldwide data. “On the other hand, the Government would have limited control over the process and there would be dependence on external agencies.”
Not too long ago, the India “turned the tables” and assumed the role of validation in its Carbon Credit Trading Scheme.
Agriculture in India is very weak to local weather change, with round 50% of cultivated areas underneath rain-fed circumstances. For instance, a historic landmark mentioned in a recent Nature editorialwas the connection between the Ganges and Yamuna rivers, constructed from 1842 to 1854, even earlier than the Suez Canal.
On this sense, there isn’t any want to emphasise the rising protagonism being regained by India on the earth as we speak.
Click on on the picture beneath to obtain this proposed framework for the voluntary home carbon market within the agricultural sector in India.
Contains an Annex with round 15 methodologies for carbon credit score initiatives in agriculture.
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