KATHMANDU – Nepal has announced its plan to trade 10 million metric tons of carbon from forests in 13 districts of Terai region in seven years.
The meeting of Carbon Funds of World Bank held in Paris of France from June 20-22 approved Nepal’s carbon production reduction document prepared by the Ministry of Forests and Environment for 13 districts of Terai—Rautahat to Kanchanpur.
“The way to trade carbon is open now,” said Dr Sindhu Prasad Dhungana, chief of REDD Implementation Center. “The program document on developing forests in sustainable way and increase carbon deposit by plantation has been approved. Now it will be implemented,” he said.
According to him, seven programs of REDD Plus in 13 districts will have 34 million metric tons of carbon deposit in 10 years. “Of the total carbon, we have agreed with World Bank to trade 10 million metric tons of carbon at the rate of 5US$ per metric ton,” said Dhungana, organizing a press meet on Monday at the ministry.
The Ministry of Forests and Environment will manage community and partnership forests in the 336,000 hectares of land, and support in the conversion of about 200,000 hectares of national forest into community and partnership forests in seven years. The ministry will also promote handing over 10,000 hectares of poorly oriented and leased forests, and develop over 30,000 hectares of private forests, distribute more than 100,000 biogas plant and improved stoves, utilize land on the basis of integrated approach and manage six conservation areas and conserve biodiversity.
When asked what if the target could not be achieved, Dhungana said, “The forest production will be enough. Non-carbon is its benefit.”
According to the Ministry, eight metric ton carbon per hectare of forest has been deposited now. The Carbon Fund of World Bank has ensured carbon elimination trade by 2025. Green Climate Fund has allocated Rs 500 million US$ for REDD Plus as an experiment.
At present, Nepal imports timber to meet its demands. When only 1.5 million cubic feet timber is produced from the forests in the country, implementation of REDD Plus will help produce 10.5 million cubic feet timber annually in Nepal, according to Dhungana.
In addition, the carbon deposit will create full-time employment opportunities for 10,000 people, community based forest management and bio-diversity conservation. It will also help to meet the target of reducing green gas production as per Nepal’s commitment on UN Climate Convention, according to Dhungana.
