WASHINGTON – May 21, 2024 | Verra welcomes the eligibility of its Verified Carbon Standard (VCS) Program methodologies under the Indian government’s initiative to create clear pathways for farmers to participate in the voluntary carbon market (VCM).
In January, India’s Ministry of Agriculture and Farmers Welfare launched (external) a VCM framework for the country’s agriculture sector. The framework aims to promote sustainable agricultural practices, encourage the adoption of regenerative farming, and build climate resilience in India’s food production system.
The Ministry pointed to VCS Program methodologies that can be used by project developers, including VM0042 Methodology for Improved Agricultural Land Management, VM0044 Methodology for Biochar Utilization in Soil and Non-Soil Applications, and VCS Methodology VM0047 Afforestation, Reforestation, and Revegetation. The Ministry has involved the Indian Council of Agriculture Research to lead the development of pilot projects in relevant areas.
“Verra welcomes this timely and bold initiative by the Indian government, which will not only encourage participation in the global voluntary carbon market, but also go a long way toward reducing India’s greenhouse gas emissions.”
According to India’s most recent report (external) to the United Nations Framework Convention on Climate Change, around 15% of the country’s emissions are produced by the agricultural sector.
“Natural climate solutions, particularly in the agricultural sector, are an effective approach to reducing and removing global greenhouse gas emissions,” Sartori said. “Verra looks forward to working with Indian stakeholders to assist with the development of carbon crediting projects. Through capacity building programs, we will provide training on our program rules, methodology requirements, and project development process.”
Contact for media inquiries:
Jeremy Warren, Senior Manager, Media Relations
jwarren@verra.org
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Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges. As a mission-driven nonprofit organization, Verra is committed to helping reduce greenhouse gas emissions, improve livelihoods, and protect natural resources by working with the private and public sectors. We support climate action and sustainable development with standards programs and tools that credibly, transparently, and robustly assess environmental and social impacts and enable funding for sustaining and scaling up projects that verifiably deliver these benefits.