On July 29, 2025, I had the distinct honor of speaking at an exclusive knowledge-sharing session on one of the most urgent opportunities before us: how carbon credits, ESG frameworks, and regenerative agriculture can transform India’s MSMEs and agri-enterprises. Hosted at MCCIA, S. B. Road, Pune, and curated by TerraBlu and AVA, the gathering brought together visionaries, enablers, and ecosystem builders committed to democratizing climate action for India’s true economic backbone.
It was a privilege to share the stage with some of the most respected leaders in this space. Prof. N. Vinod Menon, cofounder of the National Disaster Management Authority (NDMA), anchored the proceedings of the first session with his trademark clarity on resilience and risk. Umesh C. Sarangi, IAS (Retd), former chairman of NABARD, brought invaluable perspectives on rural finance and farmer-centric transformation. We were also joined by Sanjay Borkar, CEO of FarmERP, whose work in agri-tech continues to redefine the contours of digital agriculture in India.
We had hoped to hear directly from Santosh Watpade, CFO of Sahyadri Farms; unfortunately, he could not join due to bad weather. His work—and Sahyadri’s leadership in producer-owned value chains—remained a touchstone in our discussion.
My Panel: Carbon Credits & Regenerative Agriculture (Session 1)
As a speaker on the first panel, Carbon Credits & Regenerative Agriculture, moderated by Prof. Menon, I focused on how India can turn regenerative practices into long-term, value-creating engines for MSMEs and farmer collectives. The heart of my message was simple: don’t chase short-term credit revenue—build resilient, low-carbon value chains.
I framed the conversation around four practical pivots:
1) Use CRI for Voluntary Markets—at Scale and with Trust.
India’s Carbon Registry India (CRI) is purpose-built to help projects—especially those led by MSMEs, FPOs, and cooperatives—access the voluntary carbon market transparently and cost-effectively. With digitally enabled MRV (measurement, reporting, and verification), CRI can deliver robust traceability, faster onboarding, and reduced transaction costs. This matters for small players who are often priced out of international registries. By aligning project methodologies with domestic realities and leveraging India’s tech stack, CRI democratises participation and keeps value within the country.
2) Get CCTS-Ready—Compliance Will Cascade Through Supply Chains.
India’s Carbon Credit Trading Scheme (CCTS) is shaping the compliance market. Even if an MSME is not directly regulated, large buyers and anchor corporates will push decarbonisation expectations downstream. Preparing now—through baselining emissions, instituting ESG controls, and piloting mitigation projects—positions MSMEs as preferred suppliers in climate-aligned value chains. Voluntary credits through CRI can be a bridge to this readiness, building internal capability before compliance obligations bite.
3) Prioritise Value-Chain Outcomes Over One-Off Credits.
Regenerative agriculture—soil carbon, biodiversity, water conservation—should first be seen as a strategy to improve yields, quality, and resilience. Carbon revenue is the enabler, not the endgame. A farmer-producer organisation that restores soil health and cuts input costs becomes a more reliable, higher-margin supply partner. That opens premium markets and long-term contracts. Credits can co-finance the transition, but the durable value sits in better market access, reduced volatility, and stronger balance sheets.
4) Build Digital D(M)RV for Traceability and Inclusion.
From plot-level data capture to remote sensing and auditable ledgers, technology can compress verification timelines and raise integrity. With CRI’s digital backbone and agri-tech partners like FarmERP, we can stitch together input usage, practice adoption, and emission factors into a verifiable chain of custody. This not only improves credit integrity but also gives buyers confidence in the actual climate and co-benefit outcomes—unlocking better prices and repeat demand.
Throughout the conversation, Prof. Menon’s emphasis on disaster resilience tied directly to farm-level risk reduction—healthier soils, diversified cropping, and water security make communities less vulnerable. Mr. Sarangi underscored how financial inclusion, blended capital, and risk-sharing instruments can help farmers cross the adoption chasm. Richard Bright’s perspective on CRI’s role in standardisation and access rounded out the institutional architecture needed to scale. And Sanjay Borkar spotlighted how robust farm data systems translate sustainability practices into business decisions on the ground.
Session 2: ESG for Corporates & MSMEs—Signals from the Market
The second session, “Importance of ESG for Corporates & MSMEs: Path to Carbon Neutrality & Net Zero,” moderated by Chandan Lahoti (Partner, AVA), with voices including Saket Sah and other eminent panelists, reinforced the demand-side signals: investors, lenders, and global buyers are embedding sustainability into procurement and capital allocation. For MSMEs, this isn’t just about reporting; it’s about competitiveness—winning orders, accessing lower-cost finance, and reducing operational risk.
Domestic First: An India-Centric Climate Economy
A recurring theme across both sessions was India’s advantage in building domestic, interoperable systems:
- CRI for voluntary crediting, designed around India’s context, with pathways to international recognition.
- CCTS for compliance, creating a predictable framework for mitigation obligations.
- Digital DMRV, enabling high-integrity measurements at lower cost.
- Value-chain finance, linking climate outcomes to better terms of trade and capital.
Together, these elements reduce dependence on international registries, shorten cycle times, and keep a greater share of climate value within India—while still connecting our projects to global markets.
From Buzzwords to Business Levers
The organisers captured it perfectly: Carbon Credits, ESG, Regenerative Agriculture—once buzzwords—are now essential levers of profitability, resilience, and climate leadership. The key, however, is to design for durability:
- Demystify carbon markets for MSMEs and FPOs with clear, step-wise playbooks.
- Monetise regenerative practices without compromising agronomy or farmer incomes.
- Use ESG as a growth driver, not a compliance burden.
- Create local pathways to Net Zero, blending domestic registries, Indian standards, and technology.
Gratitude and a Call to Action
My sincere thanks to TerraBlu and AVA for curating a high-signal, invite-only forum that privileged depth over optics, and to MCCIA for hosting us in Pune. I’m grateful to have shared the stage with Prof. N. Vinod Menon, Umesh C. Sarangi, Sanjay Borkar, and to acknowledge Santosh Watpade, whose work at Sahyadri Farms continues to inspire value-chain thinking even when circumstances (and the weather) intervene.
Walking out that evening, I felt both optimistic and determined. Optimistic because the coalition is forming—policy thinkers, financiers, technologists, and producer organisations pulling in the same direction. Determined because the work ahead is practical: baseline, digitise, pilot, verify, and scale—project by project, value chain by value chain.
If we align CRI (voluntary), CCTS (compliance), and regenerative agriculture with smart finance and digital DMRV, we won’t just generate credits—we’ll build Indian value chains that are competitive, climate-positive, and future-proof. That is the real prize, and it is squarely within our reach.
