Himachal signs agreement with WB on carbon credits

While the agreement was signed by Additional Chief Secretary (Forests) Sudripto Roy on behalf of the state,Hubert Nove Josserand,Deputy Country Director of World Bank,signed for the International Bank for Reconstruction and Development (World Bank-Bio Carbon Fund). Chief Minister Prem Kumar Dhumal was present on the occasion,alongwith top government officials like Chief secretary Rajwant Sandhu and team World Bank leader Ranjan Samantaray. The agreement will be operative till December 2018.

Speaking on the occasion,Dhumal said the agreement is a new beginning for the state,which has been making serious efforts to become carbon neutral,beside engaging the people in preservation of forests and also earning their livelihood.

The bio carbon Mid-Himalayan project will be implemented in 11 watershed divisions in the state’s 10 districts. The project aims at reforestation to protect watersheds,improve livelihood and generate carbon revenue.

Bringing nearly 4,000 hectares of land under the project — the highest in the world — the state plans to sequester green house gases by expanding forest plantations on mostly degraded lands,apart from creating a carbon sink.

It would develop innovative cost effective ways to minimise climate change risks and provide multiple benefits to poor farmers through meeting their needs of timber,pulpwood,firewood,minor forest produces alongwith carbon credits,in cash incentive. Further,the state government will consider synchronising various administrative units on completion of the ongoing Census operation,so that each of such project could benefit the entire unit.

Detailing the components of the agreement,Hubert Nove Josserand said that the World Bank had entered into agreements for similar projects in 17 other countries,but in Himachal Pradesh,the largest area is to be covered under the project.