Developing voluntary carbon market projects for agroforestry plantations in five selected districts of Punjab
The State of Punjab is an agriculture intensive state with traditional rice-wheat cropping system that has contributed towards food security of the country. However, the productivity of this system has declined in certain areas due to various reasons. Agroforestry has emerged as one of the viable alternatives for diversification from existing rice-wheat rotation. Agroforestry can contribute more than 2 billion tons of CO2e by 2030 if government provides them Minimum Support Price (MSP) of timber produced by farmer. Due to lack of MSP, whenever there is a glut in the market, farmers have to sell timber at throwaway prices. However, agroforestry can supplement farm income by selling the carbon credits in the carbon markets, enable risk reduction and contribute towards climate resilience. Also, the demand for timber and other tree-based products is increasing day by day and one feasible alternative to fulfil such a demand would be adopting agroforestry practice as this is one system that can provide both wood and food while at the same time conserve and rehabilitate ecosystem. Carbon finance Project will enhance the income of farmers and also helping Punjab to move forward towards carbon neutrality.