Kerala, a southern Indian state, is targeting the carbon credits market for rubber and other cash crop plantations to meet the growing demand for natural carbon capture credits. India has issued 278 million credits in the voluntary carbon market between 2010 and 2022, accounting for 17% of global supply, according to S&P Global Commodity Insights analytics. The directorate of plantations in Kerala is publishing an expression of interest for conducting a study to support plantations, and a modest fund of INR20m ($247,000) has been allocated for next year. Some of the funds may be channelled into generating carbon credits. Natural Carbon Capture credits generated by Indian projects have not yet reached their full potential, despite India being a large agricultural economy, according to S&P analyst Abhijeet Thakkar. India’s Nationally Determined Contributions target the creation of 2 billion-3 billion mtCO2e sink through additional forest and tree cover by 2030. India’s State of the Forest Report 2021 estimated the country’s total carbon stock in forestry at 7.204 billion mtCO2.
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It is important that carbon credit schemes also benefit local communities.
The World Meteorological Organisation has stated that 193 countries have given unanimous backing to a scheme to monitor global greenhouse...
