With this, the farmers would be able to claim carbon credits for a host of practices such as not burning paddy straw, not ploughing land, and laser levelling of land.
Let us first understand carbon market mechanisms. As the UNFCCC explains, when a country sets a limit, or cap, on its greenhouse gas emissions, it creates something of value.
Now, countries and companies that are unable to meet their targets can buy these one-tonne units to make up for the shortfall.
Accuracy here would mean that each unit represents an actual one-tonne reduction below the cap, and that each unit is only used once.
And the buyer of the credit is basically paying a penalty for emitting or not being able to sequester CO2.
Companies such as Google, Amazon and Apple, which have vowed to hit “net zero” by a certain date, can keep their promise in part by buying carbon credits.
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