The National Council for Applied Economic Research (NCAER) and IDFC, in collaboration with Monash University of Australia, will explore the potential for greenhouse gas (GHG) offsets in Indian agriculture. The International Food Policy Research Institute will also participate in the study that will be funded by the Australian Government and the Australian Centre for International Agricultural Research (ACIAR).
The parameters of the project, including the framework, would be defined over the next six months, said Ms Jyoti Gujral of IDFC Foundation. The study will be conducted over the next 2.5 years. It will help address the contemporary policy challenge of national emission reduction. It will also offer strategic opportunity to assist in re-focussing farm level assistance towards incentive payments which will encourage less emission intensive farming practices.
Agriculture accounts for about 17 per cent of India’s GHG emissions. Mr Scott Davenport, Executive Director, New South Wales Trade and Investment said that Australia would share its experiences from the recently launched Carbon Farming Initiative that allows farmers and land managers to earn carbon credits by storing carbon or reducing GHG emissions.