India can access carbon credits worth USD 50-60 bn if it propagates agroecology: NITI Aayog

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During a virtual high-level round-table on ‘Agroecology and Regenerative Agriculture’, NITI Aayog Vice-Chairman Rajiv Kumar said India can have access to carbon credits worth USD 50-60 billion if it propagates natural farming and agroecology.

Kumar also stressed on the need to make agriculture more knowledge-intensive. According to him, there is a need to ensure that natural farming is scalable and absorbs innovations.

“We can also access green bonds market worth USD 1 trillion,” Kumar said, adding that India will have to practice agroecology as an innovative process.

“Can’t carry on with past practices because that is like driving a car in a dead-end street. Need to change direction for saving the environment and improve farmers welfare,” he said during the virtual meet.

It is to be noted here that there has been a long history of farming that is based on traditional & environment-friendly practices in India. However, agricultural activities are also one of the main contributors to human emissions of GHGs (Greenhouse Gases).

Also, agroecology, which applies ecological and social principles to food production systems, can certainly help farmers cope with climate change and global warming by enhancing resilience.