Google Enters Largest Rice-Methane Carbon Credit Deal with Indian Startup Mitti Labs
Google has signed a four-year agreement to purchase one million carbon credits from climate-tech startup Mitti Labs, marking the largest publicly announced deal for methane reduction in rice farming. The project will cover farms across three Indian states and aims to reduce methane emissions by about 50% while also cutting water use without affecting crop yields. This initiative supports Google's goal of achieving net-zero emissions by 2030. Mitti Labs, a New York- and Bengaluru-based startup founded in 2023, uses GeoAI technology to monitor rice farming practices remotely using satellite radar imagery and field data. The carbon credits will be certified under Gold Standard or Isometric after third-party verification. Google's involvement is expected to help Mitti scale its operations significantly. The deal also highlights the growing interest in agricultural methane reduction as a climate solution, with potential for expansion into Southeast Asia. A majority of revenue from these projects goes directly to farming communities.
Tickers: $GOOGL
Topics: carbon credits climate tech corporate sustainability methane emissions