CDR Project Developer - Varaha

'Unbound Showcase' is a globe-spanning series of interviews with pioneers of carbon dioxide removal (CDR). We're questioning innovators, business leaders, policymakers, academics, buyers, and investors taking on the challenge of our lifetime—gigaton-scale carbon removal from the earth's atmosphere.

Today's interview Ikarus Janzen , CCO, Ankita Garg , COO, and Aditya Kajalia , Lead - Carbon Supply from Varaha . Varaha is a leading global climate tech start-up that specialises in nature-based solutions, including regenerative agriculture, agroforestry, and biochar projects that promote climate adaptation, biodiversity, water conservation and increased income for smallholder land stewards.

"What is Varaha, and what inspired its creation?"

Ikarus Janzen - Varaha was named after an avatar of the Hindu God Vishnu, who rescued the Earth from the cosmic ocean and restored it to its safe place. We are a company dedicated to developing and scaling high-quality Natural Climate Solutions in India and other smallholder farming economies, including Bangladesh, Nepal, and Kenya. These solutions encompass projects across regenerative agriculture, agroforestry, biochar, and enhanced rock weathering, blending traditional sustainable agri practices with modern technological advances.

Given that agriculture and allied sectors contribute over a fifth of global greenhouse gas emissions, Varaha was created with the vision of mobilising finance to reverse climate change. Despite farmers' willingness to embrace environment-friendly agricultural practices, they are constrained by limited access to climate finance, which led to the birth of Varaha.?

Additionally, Varaha aims to enhance incomes for smallholders from underserved sections. To achieve these goals, Varaha developed a robust digital Monitoring, Reporting, and Verification mechanism, allowing the generation of high-credibility carbon credits and fostering trust among farmer communities, investors, and other local stakeholders.

Varaha, therefore, strives to heal the planet while uplifting its most vulnerable communities.

"How does Varaha ensure that its projects contribute to positive social and environmental outcomes beyond just carbon sequestration?"

Ankita Garg - Varaha's projects integrate strategies aimed at sustainable development to create positive social and environmental outcomes beyond carbon sequestration.

Varaha facilitates behaviour change among farmers through workshops, training programs, and awareness campaigns. These initiatives promote agricultural best practices and instil a sense of responsibility within farmer communities. Continuous dialogue and feedback mechanisms ensure these practices persist beyond the project duration and create long-term gains. Varaha actively brings marginalised communities into mainstream climate solutions by collaborating with local NGOs and Farmer Producer Organizations (FPOs).?

The projects also promote the cultivation of high-value crops, sustainable agroforestry systems, and the growth of non-timber forest products (NTFPs) like fruits, nuts, and medicinal plants. This enhances local biodiversity and creates employment opportunities for local community members involved in tree plantation, training workshops, and stakeholder consultations. Procurement and transportation of saplings also provide jobs for local vendors.

Varaha actively attempts to onboard more female farmers and train them in sustainable agriculture practices to promote self-reliance and climate resilience in increasingly challenging times.

Environmentally, by educating over 120,000 smallholder farmers on regenerative agriculture and sustainable agroforestry practices, Varaha has empowered farmers to adopt environmentally-friendly techniques across projects covering over 600,000 acres of land. The incorporation of 1 million tons of crop residue into the soil in our project in the Indo-Gangetic Plains has increased soil organic carbon content, promoting soil health and fertility while mitigating air pollution in Northern India. Additionally, transitioning smallholder farmers to direct rice seeding has saved 750,000 million litres of water. Varaha's projects also contribute to biodiversity conservation by planting native and economically valuable tree species and fighting the menace of invasive alien species. These steps enhance soil fertility and water retention, which, in turn, improves agricultural yields.?

Lasting social and environmental benefits require interventions that integrate community engagement with sustainability projects, and Varaha achieves this through its inclusive approach to project development.

"Can you describe the principles Varaha uses to design carbon offset projects?"

Ikarus Janzen - Varaha's projects are centred around the most critical needs of smallholder farmers. They take a science-driven approach to designing carbon offset projects, ensuring both environmental and economic benefits.

Varaha's carbon offset projects are fundamentally designed with smallholder farmers at their core. We began by assisting farmers in transitioning to regenerative agriculture, recognising the potential for improving soil health and crop yields. We engaged with farmers who had degraded and low-productivity land and introduced agroforestry practices to enhance their livelihoods and restore land productivity. Additionally, as we identified the potential for sustainable waste management in farmlands and for farms to sequester more carbon, we initiated biochar production and application projects, improving soil fertility and significantly increasing carbon sequestration. Our commitment to smallholder farmers means that we involve stakeholders end-to-end in the process, ensuring their needs and insights drive project design and implementation. Adhering to the FPIC framework, Varaha ensures transparent and equitable participation from the outset. Community feedback and grievance redressal are pillars of Varaha's farmer-first approach. Moving forward, we will continue to build solutions that empower smallholders, ensuring their integral role in combating climate change.

Secondly, Varaha's approach is grounded in rigorous scientific research and data-driven methodologies. We adhere to the highest scientific standards in designing and implementing carbon offset projects, ensuring that every step is backed by empirical evidence and technological innovation. By leveraging our digital MRV system, we maintain the integrity and accuracy of our projects. This science-driven approach ensures that our carbon sequestration efforts are verifiable, credible, and practical, providing confidence to stakeholders and maximising environmental impact. We continuously update our practices based on the latest scientific research, ensuring that our projects meet current standards and push the boundaries of innovation in carbon sequestration.

This comprehensive approach underscores Varaha's commitment to creating robust, scalable, and impactful carbon offset projects that benefit the environment and local communities.?

"What tangible economic and social benefits have the local communities experienced due to carbon projects on the ground in India, and how have these benefits been distributed among different groups within the community?"

Aditya Kajalia - In the rural heartlands of India, our carbon projects have transformed local communities and delivered substantial economic and social benefits. We channel 51-70% of the carbon revenue directly to smallholders, and we've empowered farmers to diversify their livelihoods, significantly reducing their economic vulnerability. This financial support has also lowered fertiliser costs and boosted crop yields, driving agricultural productivity and enhancing incomes and food security for these communities.

Our approach prioritises the inclusion of smallholder farmers in every phase of project design and implementation. By involving those most impacted by climate change in crafting solutions, we've created a deep-rooted understanding of sustainable practices. This participatory model has raised awareness and inspired long-term behavioural changes through ongoing education and community engagement, as well as embedded conservation values within the local culture. For example, training farmers to produce and apply biofertilisers has reduced dependence on chemical fertilisers and lowered input costs, opening access to the higher value organic produce market.

Moreover, our initiatives have strengthened local institutions, such as Farmer Producer Organizations (FPOs) and NGOs. By mobilising financial resources and enhancing their capacities, we've equipped these organisations to support and sustain environmentally friendly practices effectively.

Inclusivity and equitable participation are at the core of our projects. We ensure that marginalised groups, including women and other vulnerable populations, have improved access to resources and opportunities. This equitable distribution of benefits has promoted more significant social equity and cohesion within the community, paving the way for a more inclusive and resilient future.

"How have local communities been involved in the planning and implementation of carbon projects, and what steps have been taken to ensure their needs are addressed?"

Aditya Kajalia - Local communities have been actively involved in the planning and implementation of carbon projects through a comprehensive and inclusive stakeholder engagement process. This begins with equitable participation and Free, Prior, and Informed Consent (FPIC) framework, which identifies and maps stakeholders such as local communities, landowners, NGOs, FPOs, and marginalised groups.?

Varaha has its ear to the ground, and we engage with the farmers directly and through local implementation partners. They conduct regular training programs and awareness campaigns through community gatherings, focus groups, and individual consultations. All communications are in the local language, ensuring a clear understanding of concepts such as climate change, carbon markets, project details, and participation requirements. Community feedback is actively sought and integrated into the project design. This is how farmer priorities such as food security through agroforestry practices and NTFP were incorporated into our projects.

The project ensures continuous integration of feedback through regular meetings and consultations, with a structured grievance mechanism allowing stakeholders to voice concerns and ensuring timely resolutions. Stakeholders are also involved in monitoring and reporting, including field visits and progress assessments, to identify successes and areas for improvement. Partnerships with local NGOs and FPOs facilitate transparent communication and regular interactions, ensuring marginalised groups can participate and that meetings are accessible and inclusive.?

This thorough and participatory approach was developed with great care to ensure that the needs of local communities are addressed and integrated into the project.

"What's the biggest challenge facing CDR's nature-based/ science-based solutions, and what is required to scale and solve them in 2024?"

Ankita Garg - The biggest challenge facing CDR through nature-based and science-based solutions is demonstrating credibility. Accurate measurement and verification of carbon sequestration are crucial for the integrity of CDR projects to counter the growing instances of greenwashing worldwide and to productively bring the conversation back to scientific best practices to tackle climate change.

There are lessons to be learned here from Varaha's expertise in project development and steady focus on technological innovation, including remote sensing, satellite imagery, and AI-driven data analytics. Our digital MRV system provides precise and reliable measurements of carbon sequestration and reduces the risk of overestimating carbon capture benefits, building trust in CDR projects. Given the scientific rigour, Varaha's credits sell for a 50-80% premium above the average market price.

Capacity building is another critical component. Training and educating local communities is a slow process, but one that enhances their understanding and capabilities in ground implementation and ensures the durability of CDR projects.?

Strong policy support is also necessary. Governments need to establish regulatory frameworks and guidelines that incentivise CDR initiatives in voluntary offset markets, as well as provide clear standards for MRV practices.

Lastly, enhanced collaboration among governments, NGOs, the private sector, and local communities is vital. Sharing knowledge, resources, and international best practices can foster a cooperative approach to facilitate the establishment of standardised methodologies and frameworks, ensuring that CDR projects are effective, reliable, and scalable. By leveraging the strengths of diverse stakeholders, the CDR field can accelerate its progress toward mitigating climate change and achieving global carbon reduction goals.

"What are some of the biggest opportunities Varaha sees in the future of the carbon credit market?"

Ikarus Janzen - We see significant opportunities in the future of the carbon credit market, which is poised for substantial growth. As governments increasingly employ carbon markets to meet stringent environmental targets and commitments under international agreements, the regulatory landscape is becoming more favourable for carbon credits. Corporations, driven by both regulatory requirements and corporate social responsibility initiatives, are recognising the financial potential in offset markets as a means to achieve their net-zero goals. The integration of carbon credits into corporate sustainability strategies enhances brand value and meets investor expectations of environmental stewardship. Additionally, as consumers become more conscious of their carbon footprints, there is a rising demand for sustainable products and services that contribute to carbon neutrality, which can be financed through carbon credits.

Carbon markets are therefore anticipated to broaden Varaha's market substantially. This presents an opportunity to mobilise greater financing for domestic and international NbS projects, significantly improving the lives of smallholder farmers.?

With these advancements and opportunities, Varaha is well-equipped to lead the way in sustainable development and climate change mitigation, ultimately contributing to a healthier planet and more resilient communities.

Unbound Summits' mission focuses on connections, new insights, and unbound CDR opportunities. Learn more about Varaha's unique approach to supporting farmers whilst also scaling carbon removal at www.varaha.earth .