Q: What are carbon credits and their purpose?
A: Carbon credits are permits equivalent to one tonne of carbon dioxide, allowing polluters to emit within a limit by purchasing credits. The invested funds support environmental projects to offset global warming.
Q: How does carbon credit trading work in agriculture?
A: The use of "Pusa bio-decomposer," developed by the Indian Agricultural Research Institute, prevents burning of agricultural waste, generating carbon credits. These credits are earned through emission reduction and can be traded.
Q: What is dry-seeded rice cultivation and its significance?
A: Dry-seeded rice cultivation is a water-saving technique. For example, a project covering 22,000 acres aims to prevent burning of 420,000 acres of farmland. Such initiatives reduce emissions and promote sustainable practices.
Q: How is India contributing to agriculture-related carbon credit trading?
A: India's prominence as the world's second-largest producer of staples positions it to lead in carbon credit trading. Staples like rice, wheat, fruit, and vegetables play a role in carbon offset efforts.
Q: How is carbon farming being adopted in India?
A: Carbon farming is gaining traction in India as an approach to mitigate climate change. It involves implementing farming practices that sequester carbon in the soil, with farmers earning carbon credits for their efforts. These credits can be traded to offset emissions elsewhere.
Q: Are there specific initiatives promoting carbon farming in India?
A: Yes, there are initiatives aimed at encouraging carbon farming practices in India. For example, the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan Scheme (PM-KUSUM) focuses on solar-powered irrigation to reduce emissions. The Bharatiya Prakritik Krishi Paddhati Programme (BPKP) aims to improve soil health and organic matter, aligning with carbon farming objectives.
Q: What is the status of carbon credit applications in India?
A: India has a notable presence in carbon credit applications, particularly under the Verified Carbon Standard (VCS) methodology for agriculture. The country ranks high in estimated emission reductions, indicating the potential impact of carbon farming. Various entities, including startups and established companies, are applying for carbon credit certification.
Q: How can carbon farming benefit Indian farmers?
A: Carbon farming can provide financial incentives to Indian farmers by allowing them to earn income through carbon credit sales. These credits can serve as an additional revenue stream, helping farmers transition to more sustainable practices. Initiatives like the carbon credit market could complement existing programs and support farmer livelihoods.
Q: What is the potential impact of carbon credit trading in Indian agriculture?
A: Carbon credit trading could significantly reduce emissions, minimize burning of waste, using nano urea,neem-coated urea etc and foster a sustainable agricultural sector, contributing to climate goals. Recently in 2023, India announced Green Credit Scheme and Indian carbon market architecture.