Carbon Markets Association of India (CMAI) has signed a memorandum of understanding (MoU) with Krishi Udyami Krishak Vikas Chamber (KUKVC), a non-profit organisation, to form a strategic partnership seeking to promote sustainable farming practices such as the adoption of organic farming and facilitating the integration of carbon credit revenue into farmers’ income streams for enhanced livelihoods.

A media statement said the MoU signifies a key development for both KUKVC and CMAI in the fight against climate change and the advancement of environmental sustainability. Through the collective usage of their expertise and assets, KUKVC and CMAI are ready to open up fresh opportunities in the field of sustainable agriculture with carbon credits, aiding the shift towards a low-carbon economy, it said.

Calculating potential

CMAI will provide support and knowledge sharing about green credits and carbon finance. It will be conducting capacity-building sessions and explaining the carbon credits, and their importance in combating climate change while providing guidance on the process of registering and earning carbon credits through authorised carbon credit platforms, helping farmers calculate their potential green credits/carbon credits earnings based on their sustainable practices.

KUKVC will be organising awareness programmes and training workshops to educate and engage farmers, aggregating them and motivating their participation for sustainable practices. KUKVC will also support in data collection to ensure the successful implementation of green finance generation projects. It will conduct regular monitoring of plantations, maintaining comprehensive records and interacting with farmers to address any issues that may arise.

Quoting Manish Dabkara, President of CMAI, the statement said: “We are delighted to partner with KUKVC in our shared commitment to environmental sustainability. This collaboration marks the commencement of an exciting journey aimed at creating an enduring and positive impact in the battle against climate change. Through this cooperation, our goal is to tap into the significant potential of sustainable agricultural practices to reduce carbon emissions and harness the benefits of carbon credits for financing the transition. Simultaneously, we aspire to position India as a leader in promoting environmental stewardship and advocating for the adoption of cleaner, more sustainable farming practices. This includes a shift away from conventional practices towards the traditional practices while embracing the LiFE (Lifestyle for Environment). Together, we believe that we can unlock fresh opportunities and make a substantial contribution to achieving our environmental objectives.”

Om Prakash Dhankar, former Agriculture Minister of Haryana and Chief Patron of KUKVC, said: “In this strategic collaboration, KUKVC aims to leverage their extensive field expertise and capabilities to seamlessly integrate their past efforts and initiatives that have supported farmers. With the unity of forces with CMAI, KUKVC holds the belief that they can magnify the impact of their endeavours in combatting climate change. This collaboration holds the promise of yielding positive outcomes and making a substantial contribution to their collective mission of securing a sustainable future.”