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HomePosts Tagged "Shailendra Singh Rao"
Carbon Farming, India, Industry Reports / Analysis

The voluntary carbon credit market in India’s agriculture sector is gradually gaining momentum, although it remains relatively nascent compared to other industries. This makes it an exciting field with substantial opportunities for growth. The value and recognition of agricultural projects within the carbon market, like those in other sectors, vary based on factors such as project scale, certification standards, associated co-benefits and market demand. The government recently launched the ‘Framework for Voluntary Carbon Market in the agriculture sector.’ This framework is expected to simplify the process of entering domestic and international carbon markets for companies and support larger-scale projects.

On January 29, 2024, the Ministry of Agriculture and Farmers’ Welfare launched a framework aimed at promoting the Voluntary Carbon Market (VCM) within the country’s agricultural sector. The initiative seeks to empower small and medium-sized farmers to benefit from carbon credits.

In recent years, numerous private firms have emerged in India, partnering with local farmers to produce carbon credits. This collaboration comes amidst growing skepticism about the effectiveness of voluntary carbon offsetting in addressing global climate change concerns. These startups engage farmers cultivating resource-intensive crops like rice, cotton, and sugarcane, encouraging them to adopt practices that minimise planet-warming emissions. Noteworthy recent developments in the agriculture carbon credit market have set the stage for significant growth opportunities for companies.

For instance, on December 23, Transform Rural India (TRI), in collaboration with Intellecap and ACORN (Rabobank), launched a pioneering Carbon Credit Finance Project benefiting over 100,000 farmers in Jharkhand. The project is founded on the principle of fair compensation to farmers, with 80 per cent of the generated carbon credit revenue directly transferred to the farmers’ accounts.

On the current status of the voluntary carbon credit market for agriculture, Shailendra Singh Rao, Founder of Creduce, said, “The market for agricultural carbon credits in India is still nascent but expanding at an accelerated rate. At present, approximations vary between $1.2 billion and $5 billion, predicated on credit costs and anticipated uptake. It is anticipated that its future potential will reach $7 billion within a decade. Presently centering on rice cultivation and the prevention of field burning, this domain also incorporates a range of other practices such as soil management and agroforestry.”

Rao further said “Increasing global demand and governmental frameworks paint a bright future that may be to the benefit of millions of small and medium-sized producers. Despite obstacles such as project verification and equitable farmer compensation, this market exhibits tremendous potential for promoting climate action and enhancing rural livelihoods in India.”

To read more click on: https://agrospectrumindia.com/e-magazine

The voluntary carbon credit market in India’s

Agrotech, Company News, Environment, India, Nature, Start ups, Sustainability

It will positively impact the environment and provide carbon credits to the local communities.

Achieving a significant milestone, CREDUCE, a leading Carbon Credits Origination and Offset solutions provider, has signed an MoU with the Gujarat Ecology Commission, established by the Government of India, for a project-based activity on monitoring mangrove habitat plantation. The strategic partnership is aimed at preserving mangroves and restoring 10,000 hectares of coastal areas in Gujarat.

With 50 per cent of Indian mangroves expected to shift or vanish due to climate change by 2070, this initiative is directed to preserve and expand the mangrove cover. As part of the collaboration, CREDUCE will provide carbon credits development, monitoring, and trading advisory services for the project activities. The company will leverage its expertise and experience in nature-based solutions to ensure the successful execution of this game-changing project. It will positively impact the environment and provide carbon credits to the local communities.

The signing ceremony of the MoU took place in the esteemed presence of distinguished guests, including Minister of Environment, Forests and Climate Change (MOEF), Mulu Bhai Bera, Minister of State Gujarat, Mukesh Patel, Gujarat Ecology Commission Member Secretary, Mahesh Singh, and Principal Secretary of Environment & Forest Department, Gujarat, Shri Sanjeev Kumar IAS, among other dignitaries.

Shailendra Singh Rao, Climateur & Founder CREDUCE, said, “Protecting our biodiversity is our priority, and we are proud to partner with the government towards its initiatives. With the central government adding to Bharat’s success in afforestation by introducing Mangrove Initiative for Shoreline Habitats & Tangible Incomes (MISHTI) to its Budget, the resolve is clear. Forward looking states like Gujarat have taken the first step towards preservation and restoration, and we intend to help such positive initiatives by helping them accrue as many environmental benefits as possible.”

Mahesh Singh, GEC Member Secretary, said, “Gujarat as a state is rich in mangroves cover, which has consistently increased by two and a half folds in the last two decades. We can confidently boast of having the second largest after Sundarbans in Bharat. Buoyed by the Central Government initiatives and a positive political outlook, we are beginning the process of restoration, preservation, and habitat plantation and hope to become the largest in the country.”

It will positively impact the environment and