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India’s access to USD 50-60 billion worth of carbon credits can be achieved if it propagates agroecology: NITI Aayog

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India can access carbon credits worth USD 50-60 bnOn May 29, 2020 The National Institution for Transforming India(NITI) Aayog vice-chairman Rajiv Kumar stated that India’s access to USD 50-60 billion worth of carbon credits can be achieved if it propagates natural farming and agroecology while suggesting adoption of innovative farming methods based on ecological principles during a virtual high-level round-table on ‘Agroecology and Regenerative Agriculture’.

  • Discussion made by Rajiv Kumar– Emphasized the need to make agriculture more knowledge intensive & there is also a need to ensure that natural farming is scalable and absorbs innovations.

Key Points

i.Agricultural production accounts for 40% of global land surface and is responsible for 70% of projected losses in terrestrial biodiversity.

ii.One of the main contributors to human emissions of greenhouse gases is agricultural activities which are responsible for 25% of total emissions due to intensive fertiliser usage and deforestation, negatively impacting the well-being of at least 3.2 billion people.

Note- Sikkim became the 1st organic state in the world and received the UN Future Policy Gold Award, 2018.

What is a carbon credit?

It is a tradable permit or certificate that provides the holder of the credit the right to emit one ton of carbon dioxide or an equivalent of another greenhouse gas. 

Aim– To reduce the emission of carbon dioxide & other greenhouse gases from industrial activities to reduce the effects of global warming.

About NITI Aayog:
It is the premier policy ‘Think Tank’ of India which provides both directional and policy inputs.
Headquarters– New Delhi, India
Chief Executive Officer(CEO)– Amitabh Kant