KATHMANDU, APR 17 -
Nepal has been selected as one of the four countries for promoting
forest conservation by controlling deforestation and degradation as well
as profiting off forest carbon stocks.
During the ninth meeting of Carbon Fund set up under the Forest Carbon Partnership Facility (FCPF) and implemented by the World Bank (WB) from April 9 to April 11 in Belgium, Nepal was chosen as one of four countries best suitable for results-based payment system for Reducing Emissions from Deforestation and Forest Degradation (REDD plus) scheme, said a statement issued by the Ministry of Forests and Soil Conservation (MoFSC) on Wednesday.
REDD plus, a UN finance mechanism developed for developing countries in Asia, Africa and Latin America to insure monetary benefits by conserving forest and reducing emissions of harmful gases causing global warming and climate, Nepal along with Ghana, Mexico and Congo Republic were selected to utilise the Carbon Fund collected by WB.
The Emission Reduction Programme Idea Note (ER-PIN) was submitted at the meeting by a high-level delegation team from MOFSC, led by Annapurna Nanda Das. Being selected for ER-PIN, Nepal will be now able to access funds worth USD 650,000 from for preparing a Detailed Emission Reduction Programme Document.
Nepal, as part of their report submitted to ER-PIN, has included reducing emissions equivalent to 14 million carbon dioxide from 12 Tarai districts extending from Rautahat to Kanchanpur between 2015 and 2020 through the REDD plus scheme. The WB has initially agreed to buy the carbon stocks worth Rs 14 million, benefiting the country through forest carbon market approach.
Nepal is likely to become only the second country after Costa Rica to be involved in the forest carbon market as part of the REDD plus scheme.
During the ninth meeting of Carbon Fund set up under the Forest Carbon Partnership Facility (FCPF) and implemented by the World Bank (WB) from April 9 to April 11 in Belgium, Nepal was chosen as one of four countries best suitable for results-based payment system for Reducing Emissions from Deforestation and Forest Degradation (REDD plus) scheme, said a statement issued by the Ministry of Forests and Soil Conservation (MoFSC) on Wednesday.
REDD plus, a UN finance mechanism developed for developing countries in Asia, Africa and Latin America to insure monetary benefits by conserving forest and reducing emissions of harmful gases causing global warming and climate, Nepal along with Ghana, Mexico and Congo Republic were selected to utilise the Carbon Fund collected by WB.
The Emission Reduction Programme Idea Note (ER-PIN) was submitted at the meeting by a high-level delegation team from MOFSC, led by Annapurna Nanda Das. Being selected for ER-PIN, Nepal will be now able to access funds worth USD 650,000 from for preparing a Detailed Emission Reduction Programme Document.
Nepal, as part of their report submitted to ER-PIN, has included reducing emissions equivalent to 14 million carbon dioxide from 12 Tarai districts extending from Rautahat to Kanchanpur between 2015 and 2020 through the REDD plus scheme. The WB has initially agreed to buy the carbon stocks worth Rs 14 million, benefiting the country through forest carbon market approach.
Nepal is likely to become only the second country after Costa Rica to be involved in the forest carbon market as part of the REDD plus scheme.
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