30th January 2024 (9 Topics)

Copy

1 Jan

2 Jan

3 Jan

4 Jan

5 Jan

6 Jan

8 Jan

9 Jan

10 Jan

11 Jan

12 Jan

13 Jan

15 Jan

16 Jan

17 Jan

18 Jan

19 Jan

20 Jan

22 Jan

23 Jan

24 Jan

25 Jan

26 Jan

27 Jan

29 Jan

30 Jan

31 Jan

VCM in Agriculture Sector and Accreditation Protocol of Agroforestry Nurseries

Context

Framework for Voluntary Carbon Market in Agriculture Sector and Accreditation Protocol of Agroforestry Nurseries has been launched.

Key Highlights -

Framework for Voluntary Carbon Market (VCM):
- Ministry of Agriculture and Farmers’ Welfare devised a framework for VCM in the agricultural sector.
- Objective is to encourage small and medium farmers to benefit from carbon credits.

What is Voluntary Carbon Market (VCM)?

The VCM gives companies, non-profit organizations, governments, and individuals the opportunity to buy and sell carbon offset credits.
A carbon offset is an instrument that represents the reduction of one metric tonne of carbon dioxide or GHG emissions.
Companies that are unable to reach their greenhouse gas (GHG) emission targets can purchase carbon offset credits by investing in environmental projects that can avoid, reduce, or remove carbon emissions.

Benefits of Introducing Farmers to Carbon Market:
- Fosters adoption of environmentally friendly agricultural practices.
- Accelerates sustainable agricultural methods.
Significance of Agriculture Sector:
- Agriculture contributes significantly to the economy and livelihoods, engaging 54.6% of the workforce.
- GDP contribution: 18.6%.
Introduction of the Accreditation Protocol for Agroforestry Nurseries.
- Strengthening Agroforestry:Accreditation Protocol aims to strengthen institutional arrangements for large-scale production and certification of planting material.
- Will promote agroforestry in the country.

What are Carbon Credits?
- Carbon credits were devised as a mechanism to reduce greenhouse gas emissions by creating a market in which companies can trade in emissions permits.
- Under the system, companies get a set number of carbon credits, which decline over time.
- They can sell any excess to another company.
India’s Carbon Market:
- India has 1,451 projects registered or under various stages of consideration at the world’s two leading carbon registries.
- Carbon credits issued to Indian entities are worth 11% of India’s annual greenhouse gas emissions in 2021.
- Indian entities have already earned about 652 million dollars from carbon credits used to offset emissions.

Early Nutrition's and Cognitive Development

Governance

Challenge of Populist Health Policies

Governance

Economic Growth and Inequality

Economy

Pros and Cons of Simultaneous Elections in India

Indian Polity

Prohibition of Child Marriage (Amendment) Bill, 2021

Polity & Governance

Strengthening India's Quality Ecosystem

Governance

Just transition in petrochemicals: Bhadbhut barrage coming up on the Narmada estuary in Bharuch

Environment

Short News

Miscellaneous

GS Analyst: Daily Current Affairs

30th January 2024 (9 Topics)

Copy

VCM in Agriculture Sector and Accreditation Protocol of Agroforestry Nurseries

Still Have Questions?

GS Analyst: Daily Current Affairs

VCM in Agriculture Sector and Accreditation Protocol of Agroforestry Nurseries

Still Have Questions?

User Login

User Register

Forgot Password

Verify Your Mobile Number