Yogi government: Each carbon credit to fetch $6; scheme boosts farmer income while supporting India’s carbon neutrality goals
Lucknow : In a major step towards environmental sustainability and farmer empowerment, the Yogi government is set to distribute Rs 25.45 lakh to 401 farmers under the Carbon Credit Finance Scheme. This initiative not only rewards farmers for tree plantation under agroforestry but also contributes meaningfully towards India’s commitment to achieving carbon neutrality by 2070.
So far, Rs 49.55 lakh has already been disbursed to 244 farmers under this scheme. The latest round of fund distribution was flagged off by Chief Minister Yogi Adityanath himself during a massive plantation campaign held in Ayodhya Dham. At the event, he handed over cheques to beneficiary farmers, marking the beginning of the next phase of the scheme.
India’s First State to Implement Carbon Credit Finance Scheme
Uttar Pradesh has become the first state in India to implement the Carbon Credit Finance Scheme in a structured manner. In the first phase, farmers from the Gorakhpur, Bareilly, Lucknow, Meerut, Moradabad, and Saharanpur divisions have been included. Through agroforestry practices, these farmers have collectively earned an estimated 42,19,369 carbon credits. The credits are monetized at the rate of $6 per credit every five years.
During the Ayodhya event, Chief Minister Yogi Adityanath felicitated Ramapur’s Mamta Pal, Saharanpur’s Raman Singh, and Shiv Kumar from Manpuri village in Meerut by distributing their carbon credit funds. Additionally, Rs 25 lakh was transferred as advance payment to the Dudhwa Tiger Conservation Foundation as part of environmental conservation efforts.
Scheme Expansion: From Pilot to Statewide Rollout
Following the success of the first phase, the second phase has been launched to include the divisions of Devipatan, Ayodhya, Jhansi, Mirzapur, Kanpur, Varanasi, and Aligarh. The final phase will expand the scheme to the entire state, ensuring widespread participation and impact.
The current batch of beneficiaries includes farmers from several districts within the Bareilly (Badaun, Pilibhit, Shahjahanpur, Bareilly), Moradabad (Bijnor, Najibabad, Sambhal, Rampur), and Meerut (Ghaziabad, Baghpat, Bulandshahr, Gautam Buddha Nagar, Hapur) divisions. Farmers from rural Rampur, as well as Deoria, Kushinagar, and Gorakhpur districts of the Gorakhpur division, are also part of the scheme. In addition, farmers from Hardoi, South Kheri, Rae Bareli, Sitapur, and Unnao districts in the Lucknow division are receiving carbon credit payments.
TERI Partnership and Technical Support
The Carbon Credit Finance Scheme is being implemented with technical assistance from The Energy and Resources Institute (TERI). Under this system, one carbon credit is awarded for every tonne of carbon dioxide or greenhouse gases sequestered. This mechanism allows developing countries like India to offset emissions and meet international climate goals.
Farmers can earn between Rs 250 to Rs 350 per tree as additional income under this initiative, apart from the inherent value of the tree itself. This supplemental income supports rural livelihoods, strengthens the rural economy, and promotes sustainable land use practices.
A Step Towards India’s Carbon-Neutral Future
The scheme aligns with the Government of India’s target of making the country carbon neutral by 2070. By monetizing carbon credits and rewarding farmers for their green initiatives, Uttar Pradesh’s carbon credit model is setting an example for the rest of the country. It is not only a step toward environmental conservation but also a visionary move for inclusive and sustainable rural development.
