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Background: Rice is a major cereal crop and staple food of eastern India, and most farmers depend solely on rice for their livelihood. Rice farming provides both tangible and non-tangible benefits to ecosystems which need to be maintained and enhanced. These benefits are provided through ecosystem services (ES) that include both marketable and non-marketable. Methods: In this study, the rice farms in eastern India were valued by quantifying the economic value of the services under conventional method of rice cultivation and the gap of ecosystem services value and farm income per unit area were assessed. A stratified random sampling technique was used in this study for selection of agro-climatic zones, districts, blocks, gram panchayat, and study units (households). Soil sampling was also performed for assessing the regulating services (biocontrol of pests, carbon flow, soil erosion, nitrogen fixation), provisioning services (food and by-products), and supporting services (soil fertility, hydrological flow, nutrient cycling, and soil formation). Results: The results indicated that the total economic value of ecosystem services ranged from US$ 1238 to 1688 ha −1 year −1. The marketed (primary production) and non-marketed ecosystem services values ranged from 66-89 to 11-34% of the total, respectively. Valuation of some of the ecosystem services such as cultural services, biodiversity, and gas regulation, which may play a significant role in total ecosystem services, has not been made due to non-availability of data and appropriate methodology for rice ecosystem. Different values of parameters can explain the variability in ecosystem services among the agro-climatic zones in eastern India. Clustering of locations based on variability of ecosystem services helps in identifying intervention points for sustaining and improving ecosystem services, while permitting sustainable agro-ecological intensification. The highest total economic gap between ES value and farm income was found in the north central plateau zone (US$ 1063 ha −1 year −1) and the lowest in the north western plateau zone (US$ 670 ha −1 year −1). Conclusion: We suggest various measures to reduce the economic gap, including payments for ecosystem services for rice farming for sustainability of the ecosystem and agricultural development, while ensuring reliable farm income.

International carbon markets are potentially a very powerful tool for mobilizing carbon dioxide removal in line with Paris Agreement ambitions to limit global warming to well below 2°C. This requires reaching global net-zero emissions between 2050 and 2070. Yet, carbon market regulators have not approached removals in a systematic manner. This review assesses the highly fragmented treatment of removals under compliance and voluntary carbon markets, including baseline, credit and cap-and-trade systems. The Kyoto mechanisms and the large voluntary carbon market standards have long focussed on biological removals without inherent storage permanence and only recently started to develop methodologies for removals with geological storage, mineralization or biochar. Driven by high prices for credits from emerging removal technologies and advance market commitment initiatives targeting high permanence removals, various newcomers in voluntary markets are currently establishing their own approaches for generating removal credits. However, they disregard key concepts safeguarding market quality such as additionality, which risks triggering scandals and tainting the entire market for removal credits. Given the diversity of credit prices spanning three orders of magnitude from 1 to 1000, as well as of volumes ranging from a few hundred to tens of millions of credits, the current “gold rush” atmosphere of removal markets needs to quickly be replaced by a coordinated approach, ensuring credibility, and enabling removals to play the required role in reaching global net zero.