TERI, Uttar Pradesh government join hands to monetise carbon credits

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Officials of The Energy and Resources Institute (TERI) began a capacity-building workshop inMeerut, where senior forest officials were trained to assess carbon stock in trees planted by farmers in the past four years, from 2018 to 2021. Based on their assessment, farmers will get paid via the monetisation of carbon credits. This process will be facilitated byTERI.

TERI entered into a memorandum of understanding with the UP government in December last year to involve farmers in the global efforts to reduce the emission of greenhouse gases. After quantification of

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carbon stock in forests using internationally accepted methods, farmers will directly get a deposit of $6 per into their account.

Prime Minister Narendra Modi had earlier announced during the 2021 CO summit in Glasgow that the nation would become “carbon neutral” by 2070.

The carbon intensity of the economy, which is the number of goods made per unit of energy, would be reduced by 45% by 2030. The world needs to halve global emissions by 2030 and become net-zero by 2050, scientists say, to “avoid the worst effects of Climate-change”>Climate Change.”