If agriculture significantly contributes to India's greenhouse gas emissions (about 18%). Could incentivizing farmers to go for low carbon on carbon sequestration efforts help?
The cultivation of rice alone accounts for 11% of total agricultural methane emissions globally.
The voluntary carbon market, worth $1 billion in 2021, is now attracting the interest of global corporations. Microsoft recently committed to buy $2 million of carbon credits from an American farming cooperative, and US President Biden has called it a “carbon bank” to pay farmers for adopting regenerative agriculture practices.
Building on this, can Indian farmers be co-opted into the decarbonization efforts through carbon credits? Can it help them pursue innovative efforts?
