JANUARY 10, 2013
TIMES OF INDIA
Approximately 1500 farmers owning 1600 hectares in Andhra Pradesh and Orissa became the first lot of farmers in Asia and the second in the world to earn income by selling carbon credits from an AR CDM project.
The 1,500 farmers of Srikakulam, Vizianagaram and Visakhapatnam in Andhra Pradesh and Rayagada, Koraput and Kalahandi in Odisha earned Rs 85.28 lakh by selling 79,811 carbon credits, for which they received their cheques last month at a programme organised at Gitam University in the city.
According to VCCSL executive director Sai Kishore Nellore, the project was initiated in 2004 with the intention of improving the lives of farmers in rural areas by allowing them to raise tree plantations on highly degraded agricultural lands. Following that, a project idea note was prepared and subsequently a team from the World Bank visited the country for inspection in 2006.
During the next year, VCCSL entered into an Emission Reduction Purchase Agreement (ERPA) with the World Bank for sale of carbon credits generated under this project at $4.05 per carbon credit. Each carbon credit is equal to one tonne of carbon dioxide sequestered.
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Keywords: Andhra Pradesh, AR CDM, Asia, CDM AR, CERs, financing, forest carbon, India, Orissa, Standards
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