The nurture.farm, an Indian startup, sold 20.000 carbon units from agricultural waste.
This is a first for India, as no Indian company has ever entered the global carbon market through the farm sector. Indian startups are growing fast, with 12 already established unicorns this year. The nurture.farm is a Bengaluru-based startup founded in 2020 that builds agricultural solutions.
Startup’s dry-seeded rice project
This digital platform for sustainability in agriculture has a project covering 22,000 acres of rice paddies fields and involving over 2,500 farmers. The startup’s dry-seeded rice project is a technique that helps save water. 20,000 carbon credits were derived out of this project, along with 15–30% water savings.
Their Crop Residue Management Program has about 1,20,000 credits under processing and empowers over 25,000 farmers to protect 4,20,000 acres of land. The nurture.farm aims to generate a lot more carbon credits by 2023 and become the leading supplier of nature-based carbon credits in India. Although highly criticized, the carbon trading market is meant to offset global warming emissions.
One carbon credit is a permit equivalent to one 1 tonne of carbon dioxide. In carbon trading, a polluter is allowed to continue emitting up to a certain limit set by purchasing credits. This money is later invested in green projects that will further help offset global warming. Ratified by the Kyoto Protocol and Paris Agreement, carbon offset assets are usually created in the forestry and farm sectors.
Published By: Apoorva Wakodikar
Edited By: Subbuthai Padma