BRICS proposes agricultural voluntary carbon market framework to boost farmer income

The BRICS Business Council has proposed a voluntary carbon market framework for agriculture and nature-based solutions, aiming to direct most credit-sale proceeds to farmers. The plan, presented at the BRICS Business Council's annual meeting in New Delhi, calls for shared carbon accounting standards, digital monitoring, and integration with existing international carbon registries. This initiative seeks to overcome high MRV costs that have historically excluded smallholder farmers from VCM participation. Pilot projects among BRICS members will test system compatibility before broader implementation. The framework intends to expand the supply of nature-based credits for corporate buyers while channelling climate finance to agricultural producers.

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