Farmers, communities entitled for ₹8,000 per hectare per annum for three years
Shillong, Feb 12: Monetisation of the first carbon under Agro Forestry Carbon Finance Project aided by US-based International Finance Development (IFD) will take place in the next two-three months, according to the implementing agency IORA Ecological Solutions.
Farmers or communities are entitled for a grant of ₹8,000 per hectare per annum for three years for Payment for Ecosystem Services Scheme under the project.
An additional reward of ₹5,000 per hectare per annum will be awarded to Community Reserves and ₹2,000 per hectare to Sacred Groves registered with the Forest department.
The Agro Forestry Carbon Finance Project has been undertaken by IORA Ecological Solutions in collaboration with the state government and all three autonomous district councils (ADCs) of the state.
The project seeks to provide the best price to the people especially farmers through Carbon Finance, said IORA CEO Swapan Mehra after a meeting with KHADC caretaker chief Pyniaid Sing Syiem.
“The plan is to monetise their first Carbon in the next 2-3 months,” he said.
“We already have about 19,000 hectares of land with about 9,000 farmers on the Digital Platform and the goal is to take this to 100,000 hectares so that farmers can earn money through Carbon Finance,” he said.
Meanwhile, IORA is working with other investors from USA including USDC and other banks, who are interested in investing in Meghalaya, according to Mehra, who also claimed that IORA has a partnership with the world’s largest farmers’ bank in the Netherlands, Rabo Bank to promote the programme in Meghalaya.
Meanwhile, KHADC caretaker chief Pyniaid Sing Syiem, said the District Council has been working with IORA for one year now to implement the Agro Forestry Carbon Finance Project.
Syiem said IORA had provided assistance in raising awareness and providing training to the farmers on how to preserve the environment and to benefit through the Payment for Ecosystem Services Scheme which was launched by the state government.
He said the KHADC intends to expand cooperation with the International Finance Development (IFD) in the USA.
