Carbon finance: Forest dept signs MoU worth ₹1kcr

  • | Friday | 8th December, 2023

Dehradun: As part of the Global Investors Summit, the Uttarakhand forest department has entered into a Rs 1,000 crore memorandum of understanding with a Gurgaon-based firm Renew Power Synergy Private Limited on Thursday, marking the departments entry into the carbon financing sector.It is for the first time in the country that private sector investment is coming to any forest department, thus, Uttarakhandhas taken a lead in this.The works under these investments would be executed either by the forest department or by the local communities, said GS Pande, CEO, Compensatory Afforestation Fund Act, Uttarakhand forest department.Pande added: The firm will attract private investments in our forests, provide funds for afforestation and related endeavours. Carbon credits will be generated and managed by the forest department in global markets."Principal secretary of forest department RK Sudhansu, head of forest force Anup Malik and GS Pande attended the eveent.We also published the following articles recentlyTiger sighted 10km outside Bandipur forest, Karnataka forest dept on alertForest officials confirm presence of tiger 10km away from Bandipur Tiger Reserve. Operation initiated to capture tiger preying on cattle. Tigers image captured in camera trap and CCTV footage. Authorities using Bandipur method with camouflaged cages and tranquilizers. 60 personnel and 7 officers involved in the operation.Forest dept told not to hold walkathon in wildlife parkDelhi High Court restrains forest department from holding Walk with Wildlife event in Asola Bhatti Wildlife Sanctuary due to safety concerns. The event could endanger participants and wild animals. No arrangements for safety and security were made. Asola Bhatti lacks demarcation of core and buffer zones and recent leopard spotting raises concerns. The court emphasizes stringent restrictions on entry into sanctuaries and the need for planned activities to balance ecotourism and wildlife protection.Revenue & forest depts set to fight over 900 acresThe forest department has notified 900 acres of revenue land in Chinnakanal, Idukki as reserve forest, leading to a dispute with the revenue department. The land was leased to Hindustan Newsprints Limited (HNL) for eucalyptus plantations, but the lease expired in 2020. The forest department proposed converting the land into a national park to address the human-elephant conflict in the area. The revenue department has asked for details of the transfer of land from revenue to forests, but the forest department has not responded. Kerala has 11,522 sq km of forest, accounting for 29.65% of its total land.

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