Agriculture Carbon Credits
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GSK signed an eight-year agreement with carbon removal developer Varaha to purchase more than 500,000 carbon credits generated by a regenerative agriculture project spanning 50,000 hectares of farmland in Punjab and Haryana, India. The deal, structured by investment platform Earthly, is expected to deliver approximately 100,000 tonnes of carbon removal credits annually from 2028 to 2033, covering roughly 7% of GSK's forecast residual emissions.
The project helps smallholder farmers transition from practices such as residue burning and flood-irrigated rice transplanting to alternatives including Direct Seeded Rice and reduced tillage.
During its first monitoring period across 42,000 hectares, the project avoided 4,574 tonnes of fine particulate matter emissions and saved approximately 59.5 billion liters of water, while participating households saw incomes increase by 12% to 16%.
