The United Nations Framework Convention on Climate Change (UNFCCC) has registered the Himachal Pradesh Mid-Himalayan Watershed Project for carbon credits.
The Himalayan Watershed Project will thus accrue millions of carbon credits which will benefit about 5,000 families from remote and backward villages in the state, receiving revenue for the next 20 years from the World Bank for providing green cover to 4,000
hectare barren land area falling in 10 districts.
"The project is estimated to generate carbon revenue of at least Rs 20 crore to the communities and individual land holders for the first crediting period of 20 years, which is a strong incentive to protect forest cover," RK Kapoor, Chief Project Director
of the programme, said.
This is the first experiment of its kind in getting participation of local people in the conservation and protection of environment. The villagers will be paid 90 per cent of the revenue the state government gets by selling to the World Bank the carbon credits
resulting from sequestration of greenhouse gas carbon dioxide through afforestation.
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