BRICS proposes carbon market framework to increase farmers’ incomes

illuminem summarises for you the essential news of the day, reviewed by our editorial team. Read the full piece on Carbon Herald or enjoy below:

🗞️ Driving the news: The BRICS Business Council has proposed a voluntary carbon market framework for agriculture and nature-based solutions, aiming to direct most carbon-credit revenue to farmers and Indigenous communities
• Presented by the bloc’s Agribusiness Working Group at its annual meeting in New Delhi, the proposal would connect to existing international registries rather than establish an entirely separate system

🔭 The context: The framework calls for common carbon-accounting standards and a shared digital system for monitoring, reporting and verification
• These measures aim to make agricultural carbon credits more comparable across member countries and reduce the cost of participation for smallholder farmers
• Companies and financial institutions would provide demand for credits, while governments could use the market to support national climate commitments

🌍 Why it matters for the planet: Improved rice irrigation could reduce methane emissions, while better soil management can increase carbon storage and support more sustainable agriculture
• However, the climate benefits depend on robust measurement, credible verification and ensuring that credits represent genuine, lasting emissions reductions

⏭️ What’s next: Pilot projects between BRICS members are expected to test whether national systems can work together
• The key challenges will be keeping verification affordable across fragmented farms, maintaining credit quality and ensuring farmers receive their share of revenues promptly

📈 One stat: 1 million carbon credits — the volume Google has agreed to purchase from Mitti Labs over four years to support lower-emission rice cultivation in India.

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