Varaha to Generate Carbon Credits from 2 Million ha in India

Singapore, Apr 17 (PTI) Gurugram-based Varaha ClimateAg Pvt Ltd is looking to work with small Indian farmers across 2 million ha by 2028 and generate revenue from carbon credit sales, a top company official said here.

Speaking to PTI on the sidelines of Ecosperity Week being held in Singapore from April 15-17, Varaha CEO and Co-Founder Madhur Jain highlighted the potential of working with small-holding farmers across about one billion hectares of farm lands in SubSahara and Asia.

"We hope to work across two million ha by 2028, mostly with farmers having small-size agriculture land, and generate a carbon credit revenue," he said.

Varaha has started working in Bangladesh and Nepal as well as initiated work in Kenya. "We are working on 30,000 ha of farm land in these three countries,” he said, adding, "it is early days in Kenya."

"Small farmers are most affected by climate change," he pointed out.

Agriculture and allied industries contribute 24 per cent of the global emissions.

"The process of supply and demand for carbon credit has started," said Jain, adding that the company has been contracted to generate 230,000 carbon credits to be sold on marketplaces such as Klimate and Carbonfuture as well as corporations.