Credit Carbon Scheme
The Government of Uttar Pradesh has launched India’s first carbon credit finance scheme to promote environmental protection and economic prosperity of farmers. So far, 244 farmers have been given Rs 49.55 lakh under this scheme. In the next phase, 401 and farmers will be given Rs 25.45 lakh.
Chief Minister Yogi Adityanath started it during the statewide tree plantation campaign held at Ayodhya Dham. In the first phase, farmers of Gorakhpur, Bareilly, Lucknow, Meerut, Moradabad and Saharanpur divisions were included. 2,406 farmers of Gorakhpur will get 34.66 crore, 4,500 farmers of Bareilly, 24.84 crore, 2,512 farmers of Lucknow will get 21.26 crore, 3,754 farmers of Meerut, 21.67 crore to Meerut, 21.67 crore, 4,697 farmers of Moradabad will get 38.05 crore and 7,271 farmers of Saharanpur and 7,271 farmers of Saharanpur will get Rs 61.52 crore. In the second phase, this scheme will be extended to Devi Patan, Ayodhya, Jhansi, Mirzapur, Kanpur, Varanasi and Aligarh divisions and will be implemented in the entire state in the third phase.
What is CORBAN Credit?
Corbon credit is a kind of environmental currency, which indicates a decrease in greenhouse gas emissions. Each carbon credit represents a tonne carbon dioxide equivalent emissions, removal or offset. Farmers can earn a corbon credit through emissions emission or carbon absorption techniques, such as tree plantations. These credits can be sold or traded in the Corbon Market, which gives additional income to the farmers.
What is the scheme of UP government?
According to the state government, the farmers of UP have so far generated 42.19 lakh Corbon Credit through Forest-Farming (AGORONFORESI). Distribution is done every five years at the rate of $ 6 per credit. The scheme is running in partnership with The Energy and Resources Institute (Teri). Under this, a carbon credit is given on removal of a metric tonne carbon dioxide or other greenhouse gas. This gives farmers an opportunity to contribute to income as well as environmental protection. Under the scheme, farmers can earn an additional 250 to 350 rupees per tree. From 2024 to 2026, 25,140 farmers will get incentives of Rs 202 crore. This scheme will play an important role in the carbon neutrality target of the Government of India by 2070.
A tree mother’s name 2.0
According to the government statement, the campaign ‘A tree mother’s name 2.0’ campaign set a new record by planting 37.21 crore saplings this year. In the last eight years, more than 240 million saplings were planted in UP. Since 2017, the green region of the state has increased by about 5 lakh acres, and the forest and tree cover has increased from 9.18% of the geographical area of the state to about 10%.