India’s creduce to set up digital registry to help small farmers earn carbon credits

Subject: Environment

Section: Climate change

Context:

Creduce, one of India’s leading services providers in the field of climate change and carbon asset management, plans to set up a digital registry to help small and marginal farmers claim carbon credits, its founder Shailendra Singh Rao has said.

How Creduce’s digital registry will help farmers?

CREDUCE is a macro scale organization headquartered at Ahmedabad (Gujarat).
Creduce, launched in 2012 and rebranded in 2020, has made a soft launch of the registry and trial runs are on to test the platform through demo projects.
- A farmer has to be onboard and his activities will be recognised on the company’s platform.
- Farmers will be awarded carbon credits for free and these credits can be traded on our integrated marketplace.
- The money that a farmer earns through such a trade will directly be credited into the farmer’s account through the direct beneficiary transfer model.
As per 2021 data, 200 million plus carbon credits were traded globally with trading from India accounting for 30 per cent. India is a major beneficiary.
Creduce also deals with afforestation, which is basically rendering barren lands green or developing forests on such lands.
There is also reforestation where new trees are planted on land where forests had existed previously.

Creduce’s involvement with various States governments:

Arunachal Pradesh government– to develop bamboo resources on community land covering one lakh hectares.
“red plus” forestation-based carbon credit activity with Mizoram and Assam governments.
The afforestation/reforestation based rubber plantation activity in Kerala.
Carbon credit from sustainable rice cultivation.
Sustainable super cultivation in Gujarat and Maharashtra.

‘Red plus’ forestation:

“Red plus” forestation refers to reckless activities that damage existing forest lands that have carbon stock which would have to be accounted for and claimed. “Such a process can help to preserve these forests using the carbon credits money garnered from its existing carbon stocks.

Renewable Energy Certificates (RECs):

Renewable Energy Certificates (RECs) is a market-based instrument to promote renewable sources of energy and development of the market in electricity.
One REC is created when one megawatt hour of electricity is generated from an eligible renewable energy source.