Munda Launches Framework for Carbon Market in Agri Sector

New Delhi, Jan 29 (PTI) Union Agriculture Minister Arjun Munda on Monday launched a framework to promote the Voluntary Carbon Market (VCM) in the farm sector and said this will encourage small and medium farmers to avail benefits of carbon credit.

Introducing farmers to the carbon market will not only benefit them but also accelerate the adoption of environment-friendly agricultural practices, the minister said.

He launched the 'Framework for Voluntary Carbon Market in Agriculture Sector' and 'Accreditation Protocol of Agroforestry Nurseries' here, according to an official statement.

He requested cooperation from the ministries concerned of the Centre and the states and other organisations to promote the carbon market in the interest of farmers.

"Global challenges like global warming are in front of all of us; hence we have to move ahead with caution," the minister said.

Munda said the Accreditation Protocol of Agroforestry Nurseries will strengthen the institutional arrangements for the production and certification of planting material on a large scale to promote agroforestry in the country.

He asked all the stakeholders to adopt the protocol so that quality planting material can provide assured returns.

Munda said that the agriculture sector in the country is making an important contribution to the economy and livelihood of crores of people.

He said 54.6 per cent of the country's workforce is engaged in agriculture and allied sectors' activities. The share of the agriculture sector in GDP is 18.6 per cent, while the sown area is 139.3 million hectares.

Agriculture Secretary Manoj Ahuja and Indian Council of Agricultural Research (ICAR) Director General Himanshu Pathak were present at the function.