ANNOUNCEMENTS
This research evaluates the potential of receiving incentives from the carbon market for adopting sustainable agricultural practices. Utilizing the VERRA-VCS registry's VM0042 methodology for Improved Agricultural Land Management, the project quantifies Greenhouse Gas (GHG) emissions reductions achievable through sustainable practices in cotton production in Odisha state of India. Data on cotton area, production, and fertilizer usage were collected from Odisha's agricultural statistics and reports. Emissions were calculated using the Cool Farm Tool, focusing on fertilizer application and residue management. The study estimates potential carbon credits and revenue from carbon trading, considering the volatile nature of carbon credit prices. Results indicate significant GHG emissions from non-sustainable practices, suggesting a potential for substantial carbon credit generation. However, the revenue from carbon credits alone may not offset productivity losses from switching to organic amendments, highlighting the need for additional income sources such as premium prices for organic produce. The establishment of a domestic carbon market in India may improve carbon incentives, making sustainable agriculture more economically viable.
Keywords: Carbon Market, Voluntary Carbon Market, Carbon Credit, Domestic Market, Sustainable Agriculture, Cotton cultivation, GHG Emission, Odisha, VERRA-VCS.
