The carbon farming programme is being initiated by a private entity Grow Indigo , a joint venture between seed major Mahyco and US-based Indigo.
“We have brought 4,000 hectare in Punjab under the carbon farming programme while a MoU with Haryana will be signed shortly,” Usha Zehr, executive director, GIPL, told FE.
Zehr said the programme will be certified under the carbon standard protocol, which is a global voluntary GHG reduction programme.
“Efforts towards adoption of regenerating agricultural practices by farmers would be suitably incentivised through this unique initiative,” Ashok Kumar Singh, director, IARI, said.
Carbon credits from farmers can be purchased by those industries, especially aviation, mining or manufacturers of fertiliser, who are not in a position to reduce their carbon footprints because of the very nature of their business.
If paddy straw is not burnt and put back into the soil, the organic carbon content of the soil gets enhanced, thus improving fertility.
Meanwhile, agri digital platform nurture.farm, in a recent statement, said it has sold 20,000 carbon units from agricultural waste, first time an Indian firm has entered the global carbon market through the farm sector, Dhruv Sawhney, Business Head and COO of nurture.farm, said.