Current Affair 1:

News:

The Government notified Carbon Credit Trading Scheme, in December 2023 for implementation of carbon trading mechanism.

Bureau: Bureau of Energy Efficiency

Under the offset mechanism of carbon trading, one of the selected sectors is the Agriculture sector. Through this scheme, entities /farmers would be able to register GHG mitigation projects for issuance of carbon credit certificates that meet the required parameters as per approved methodologies.

Ministry of Agriculture & Farmers Welfare has developed a framework for promoting Voluntary Carbon Market (VCM) in India for the agricultural sector to encourage small and marginal farmers to get carbon credit benefits. Introducing carbon markets to farmers can accelerate the acceptance of eco-friendly agriculture practices while enhancing their income.

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