Earlier in May this year, the World Bank entered into an agreement with the Himachal Pradesh government for what is to be the world’s largest and India’s first clean development mechanism (CDM) project under which the bank will buy carbon credits from the new forests being developed on degraded lands under a watershed management program.
According to reports,a silent but significant revolution is taking place in mid and high hill ranges of Himachal Pradesh, where community participation in watershed management programmes is making strong headway for success of world’s largest and India’s first Clean Development Mechanism (CDM) project registered for carbon credits by the United Nations.
Under this project, the World Bank will buy carbon credits from the new forests/plantations being developed on degraded areas in 177 Gram Panchayats covering around 4000 hectare land falling in 10 districts of the state.
R.K.Kapoor, chief project director, HP Mid- Himalayan Water Shed Development Project, says the project would impact a total area of 4,003.07 hectares, that surpasses the 3,500 hectares for CDM project of China.
The project is expected to sequester the emission of 8,00,000 tonnes of carbon dioxide from 2006 to 2025 by promoting bio- diversity through native speciesin remote areas, thus contributing to the fight against global warming.
With the peoples participation in world’s first carbon credit project a transition is taking place —from deforestation to reforestation and this phenomenon is bringing economic prosperity and happiness to around 5000 families in remote and backward areas of the state .
The paradigm change was achieved bymaking all villagers as stake holders in the success of the World Bank aided 365 crore rupees mid-Himalayan water shed development.