The project named 'Reforestation Project-Improving Livelihood and Watersheds' being implemented in 177 panchayats in 11 watershed divisions, was aimed at reforestation in watershed areas, improving livelihood, falling in these watershed, and generating carbon revenue for the community.
Himachal today became the first state in the country to sign an agreement with the World Bank for securing carbon credits for its 'Clean Development Mechanism' project in 11 watershed divisions under Mid Himalayan Watershed Development Project.
The project named 'Reforestation Project-Improving Livelihood and Watersheds' being implemented in 177 panchayats in 11 watershed divisions, was aimed at reforestation in watershed areas, improving livelihood, falling in these watershed, and generating carbon revenue for the community.
The 'Emission reduction Purchase Agreement'(EROA) for purchase of Certified Emission was signed by reductions(CER) by World Bank was signed by Hubert Nove Josserand, Deputy Country Director of World bank on behalf of International bank of Reconstruction and development and Sudripto Roy, additional chief secretary on behalf of Himachal government in the presence of chief minister PK Dhumal.
The validation process under the United Nations Framework Convention on Climate Change (UNFCCC) has been completed and likely to be registered with UNFCCC shortly.
The agreement has been signed for ten years ending December 2018 and widening of its scope could be considered depending upon growth, he added.
Chief minister disclosed that the project would accrue income of around Rs2,000 per hectare per annum to the community and stakeholders and 4000-hectare area would be covered.
Sequestration of one tonne of carbon dioxide emission would be equivalent to one credit unit.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}