Carbon markets hold tremendous potential to drive climate action while supporting communities in emerging markets and developing economies (EMDEs). But are they truly inclusive?

A recent working paper by the Consultative Group to Assist the Poor (CGAP) highlights the opportunities and challenges of ensuring carbon markets benefit underserved communities, particularly those living in poverty. As a company deeply committed to empowering farmers and ranchers across the Global South, Boomitra is proud to be featured in this analysis for our efforts to build inclusive carbon projects. Here, we share key findings from the paper and explain how Boomitra addresses critical gaps to create a more equitable green transition.

Who is CGAP? 

The Consultative Group to Assist the Poor (CGAP) is a global partnership of 35 leading developmental organizations working to advance financial inclusion for underserved communities. Housed by the World Bank, CGAP combines practical research, advocacy, and innovation to enable financial services that help improve the lives and livelihoods of people living in poverty. 

Their working paper, A Green Future for All: How Financial Services Can Build More Inclusive Carbon Markets, builds on CGAP’s expertise in inclusive finance, exploring how financial services can support the development of more equitable and impactful carbon markets. 

Key findings from the working paper

The paper emphasizes that when designed inclusively, carbon markets can do much more than mitigate greenhouse gas emissions. They can: 

Improve livelihoods: By creating economic opportunities and sharing revenues with underserved communities.

Advance gender equality: Through equitable participation of women in carbon projects and fair benefit-sharing practices.

Support climate adaptation: By fostering practices like regenerative agriculture that build resilience to climate shocks.

However, the report also outlines significant barriers faced by low-income households and small businesses in participating in and benefiting from carbon projects. These include the limited availability of green technologies in rural areas, the high upfront costs of adopting sustainable practices despite clear long-term benefits, and behavioral and systemic challenges such as deeply ingrained practices, risk aversion, and a lack of trust in new technologies. Additionally, structural inequities and gender norms often lead to the exclusion of women from these initiatives.

How Boomitra is building a more inclusive carbon market

At Boomitra, we are restoring global soils and accelerating carbon removal on a planetary scale by empowering farmers and ranchers. Here’s how we’re tackling the barriers highlighted in the paper: 

Increasing affordability and accessibility

Alongside our ecosystem of local implementation partners, we provide the tools and training for farmers and ranchers to implement regenerative agriculture practices. Our projects are uniquely accessible to smallholder farmers, including those stewarding as little as one acre, who might otherwise be excluded from carbon markets. 

Fair and transparent revenue sharing

Boomitra shares around 70% of carbon revenues directly with project participants. We compensate farmers for their crucial work—sequestering carbon and regenerating soil. This additional income enables them to invest in their farms, livelihoods, and communities. 

Supporting behavior change

Transitioning to sustainable practices can be challenging. Boomitra helps overcome these barriers with ongoing support, comprehensive training, and access to advanced tools like satellite and AI-powered insights and the Boomitra farmer app. This app delivers real-time data on soil health, weather patterns, and crop management, empowering growers to adopt and sustain regenerative practices with greater ease and confidence. 

Empowering women

We actively engage women farmers and ranchers in our projects, providing tailored resources and ensuring equitable participation. By addressing structural barriers like access to training and decision-making, Boomitra fosters gender-inclusive projects that benefit entire communities. 

Looking ahead: innovation and collaboration

As the paper highlights, collaboration across stakeholders—like financial institutions, carbon project developers, and governments—is key to scaling inclusive carbon markets. Boomitra is already exploring partnerships with financial service providers to expand access to credit, savings, and insurance products tailored to farmers’ needs. 

Innovation is also central to our work. By leveraging cutting-edge AI and remote sensing technology, Boomitra measures soil carbon sequestration at scale, driving efficiencies and ensuring projects meet the highest standards of transparency and impact. 

Read the full working paper

To learn more about the opportunities and challenges in building inclusive carbon markets, and how companies like Boomitra are driving change, check out the full working paper. 

By putting farmers first, sharing benefits equitably, and addressing systemic barriers, Boomitra is proving that carbon markets can support a just, green transition—one that uplifts underserved communities while tackling the climate crisis. 

Interested in partnering with us or learning more about our projects? Want to learn how Boomitra ensures traceable and verified benefits from our projects to meet your sustainability goals? Contact us today. 

Shelley Northrop

VP, Marketing