Author: Mr. Nimish Gangrade, Krishak Jagat
26 January 2023, New Delhi: In recent years, the concept of carbon credits has become popular as a way for businesses and individuals to offset their carbon emissions and help reduce global greenhouse gas emissions. Carbon credits are certificates that represent the right to emit a certain amount of carbon dioxide (CO2) or other greenhouse gases. Companies and individuals can purchase carbon credits from entities that have reduced their emissions or from those that have invested in projects that offset emissions elsewhere.
The idea of farmers selling carbon credits to large multinational corporations is gaining traction as a way to help farmers earn a living while helping the planet. The idea is that farmers can use their land to sequester carbon in the soil, reducing the amount of CO2 in the atmosphere. By selling carbon credits to large companies, farmers can be compensated for their efforts to reduce carbon emissions and help the environment.
However, the reality of this concept is still uncertain. While there are some promising initiatives, such as the World Bank’s Carbon Pricing Leadership Coalition, which has committed to reducing CO2 emissions through carbon pricing, there is still much to be done to make carbon credits a viable option for farmers.
One of the primary challenges is that carbon credits are not yet recognized as a viable form of currency in many countries, making it difficult for farmers to monetize their efforts. Additionally, there are still questions about how carbon credits should be priced and how much money farmers can expect to make from them.
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