Public Works and Revenue Minister Thakur Gulab Singh terms the agreement on Emission Reduction Purchase signed by the State Government with World Bank, as a historic step with long term benefits to the State. The agreement on Emission Reduction Purchase with World Bank, a Clean Development Mechanism (CDM) Bio-Carbon Sub-Project of Himachal Pradesh under Mid Himalayan Watershed Development Project, was signed yesterday at Shimla that will ensure Carbon Credits to the State.
While hailing the decision of the State Government, Thakur Gulab Singh said that Himachal Pradesh had taken a lead in the country by signing this agreement which would cover over 4000 hectares of area spread across 177 gram panchayats in 10 districts of the State. He said that the project aims at protecting watersheds, improving livelihoods and generating carbon revenue for the communities through aforestation.
Thakur Gulab Singh said that the Project would sequester Green House Gases by expanding forestry plantations on mostly degraded lands apart from creating a carbon sink besides fulfilling global and national environmental objectives. He said that it would also help in minimizing climate change risks and provide multiple benefits to the poor farmers of the State. He said that credit of this goes to the far sighted and visionary leadership of Prof. Prem Kumar Dhumal, Chief Minister, who once again has proved his political acumenship and commitment to ensure all-round development of the State. He said that the people of the Project area would be benefited immensely with the implementation of the project as they would be deriving cash incentives out of the project.