Decarbonization from Agriculture and Voluntary Carbon Markets across the World: Opportunities and Challenges (review)

Agriculture not only contributes significantly to Carbon Dioxide (CO2), methane (CH4) and nitrous oxide (N2O) gas emissions but also acts as their mitigating agent. Carbon (C) credits have emerged as an important economic tool that links environmental sustainability with finance. Incentives are provided to individuals, organisations and various industries with each credit represented by one metric ton of carbon dioxide equivalent (CO2e) removed. They allow the institutions to invest in climate smart practices. Environmentally sustainable methods such as direct-seeded rice (DSR) and alternating wetting and drying (AWD), application of biochar and integrated nutrient management practices help in enhancing soil carbon, methane reduction and improving soil health simultaneously. Verra’s Certified Carbon Standard (VCS) and the Gold Standard (GS) are worldwide frameworks that govern voluntary carbon market (VCM). VCM, while its advantages, has challenges in maintaining trust via rigorous monitoring, reporting and verification (MRV) systems. However, the addition of advanced technological interventions such as remote sensing, artificial intelligence and blockchain technology enhance the transparency and ensure additionality along with making VCM accessible to smallholders. So, the participation of agriculture in carbon market is not just a financial mechanism, but a demonstration of global responsibility. This review throws light on the relationship among decarbonization, VCM and carbon credit generation, emphasizing on enhancement of food security along with restoration of ecosystem and contribution towards global climate goals through sustainable land-use practices.