GSK has committed to an eight-year carbon removal agreement with Indian climate company Varaha, supporting regenerative agriculture on 50,000 hectares of smallholder farmland in Punjab and Haryana. The deal is expected to generate over 500,000 carbon credits and deliver roughly 100,000 tonnes of removal credits annually between 2028 and 2033. The project uses Verra's VM0042 methodology and aims to reduce crop residue burning, lower water use, and improve soil health while boosting farmer incomes. This agreement links carbon finance directly to three pressing issues in northern India: climate change, farm income, and air pollution. Farmers will receive subsidized machinery and a share of carbon revenue to adopt practices like direct-seeded rice and reduced tillage. GSK plans to use the credits toward its 2030 and 2045 net-zero targets, prioritizing removals rather than offsets. The deal also highlights the growing role of agricultural carbon projects in the voluntary market, though delivery and independent verification remain the key tests.
