The Nadu government has established the first-ever Special Purpose Vehicle (SPV) to handle environmental conservation missions in the state.
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“Tamil Nadu Green Climate Company” is the name given to the special purpose entity.
Tamil Nadu Climate Change, Tamil Nadu Wetlands, and Tamil Nadu Green Movement are three essential natural conservation missions that the company will professionally manage.
This was formed after Prime Minister Narendra Modi pledged that India would be carbon-neutral by 2070.
Mission SPV
SPV’s mission is to plan, implement, and monitor a variety of climate change adaptation and mitigation programs across the state.
Wetland mapping and restoration are two of the most important aspects of the project.
Increasing woodland and tree cover to 33%.
SPV will also build strong policy support for climate change across all government sectors.
It will develop methods for reducing greenhouse gas emissions as well as benchmarking industries in the transition to green manufacturing.
SPV will also encourage environmentally friendly technologies in order to ensure a long-term future.
SPV members and finances
SPV will have a Rs 5 crore authorized capital.
Chairperson and MD are State Environment Secretary
Top officials from the finance, municipal administration, energy, Agriculture-notes-for-state-psc-exams”>Agriculture, and Forestry departments are among the members.
The State Finance Minister announced three missions while presenting the amended budget for 2021-2022.
This mission was established with the goal of identifying and mapping 100 wetlands in five years.
At a cost of Rs 150 crore, it will also aid in the restoration of natural balance with a focus on livelihood.