Carbon Streaming Announces Sustainable Rice Farming Stream With Core Carbonx - Seite 2

Mr. Cochrane continued: “Core CarbonX has been collaborating with organizations and guiding clients successfully for more than a decade on climate mitigation projects and supporting communities to achieve alternative, sustainable sources of income to improve livelihoods.”

“We are excited to collaborate with our new partner, Carbon Streaming, to bring Alternate Water Management Practices (AWD and DSR) to rice fields in the Nalgonda District of Telangana State, India,” said Niroj Mohanty, Managing Director of Core CarbonX. “Carbon Streaming’s innovative climate financing allows us to leverage our considerable expertise to provide enrolled farmers with tools to farm more sustainably and reduce methane emissions.”

Core CarbonX Solutions Private Limited was established in India in 2008 as a climate and sustainability consulting firm, serving clients in more than 10 countries. It has been active in both the voluntary and compliance carbon markets, facilitating the generation of one million carbon credits from renewable energy and nature-based solutions.

For this Project, Core CarbonX is partnering with farmer producer organizations and local universities to educate farmers on the benefits of implementing the AWD and DSR methods, and to provide implementation training. The participating farmers will shift from continuously flooding the fields to the AWD method, and from the transplanting to DSR method. As part of the Project, Core CarbonX will also install field water tubes to monitor the water depth to notify farmers when to irrigate their fields. The conventional rice cultivation practice of continuous flooding requires large amounts of water and also results in methane production through anaerobic decomposition of soil. By converting to the AWD protocol, water usage is expected to decrease up to 30%, resulting in energy conservation from reduced water pumping, and GHG emissions are estimated to decrease by up to 50%.

Pursuant to the project plan, the Project expects to enroll 40,000 hectares (“ha”), with full enrollment anticipated by the end of 2022. The Project is expected to reduce approximately 2.5 million tCO₂e emissions and generate an equivalent number of carbon credits over the seven-year term of the Carbon Stream, in a range of approximately 300,000 to 400,000 VCUs annually commencing in the second half of calendar year 2023. The Company will receive 100% of the VCUs generated by the Project and will have the option to renew the Carbon Stream for up to 14 additional years, upon mutual agreement of the parties. Emission reductions generated by the Project are expected to be independently verified and registered by Verra as Core CarbonX is currently engaging an auditor for validation.