SHILLONG, Feb 11: IORA Ecological Solutions, a Delhi-based firm, has expressed its commitment to work with the state government and the three autonomous district councils to transform Meghalaya into a green economy hub of India.
Talking to reporters after meeting KHADC’s Chief Executive Member, Pyniaid Sing Syiem here on Tuesday, the firm’s founder-CEO, Swapan Mehra said they have been working with the Meghalaya government, KHADC, JHADC, and GHADC on helping the community and farmers get the best value for their tree assets through carbon finance.
He said the firm has a partnership with the Netherlands-based Rubber Bank, the largest agriculture bank in the world, to develop the programme in the state with a plan to monetise their first carbon in the next three months.
Mehra said they have boarded about 19,000 hectares and 9,000 farmers on their digital platform, and their goal is to take this to 100,000 hectares. He also said the KHADC under the leadership of Syiem has been supporting them to develop the programme from the very beginning.
The KHADC has helped the firm connect with the communities and brief them about the importance and value of carbon and other such environmental finance.
According to Mehra, the council has allowed them to leverage its nurseries and its Forest Department as long as the farmers and communities benefit and their incomes increase. “So, this is our partnership. Now, we are talking to other funders. One of them is the US-based firm USDC which is keen to invest in Meghalaya. Our interest is to continue to work together in this direction with the government and ADCs to achieve the goal we have set,” he said.
He further said Chief Minister Conrad K Sangma launched the programme last year and attended the workshop they had conducted.
Meanwhile, Syiem said the council has been partnering with IORA Ecological Solutions for a year to implement the Agroforestry Carbon Finance Project.
He said the firm has helped the council create awareness and educate the farmers on the importance of preserving the environment, especially to help the farmers benefit through the Payment for Ecosystem Services Scheme (PESS) launched by the state government.
He said the council is aiming to expand its partnership with the US-based financial institution, International Finance Development. He expressed happiness that they would be able to protect the forest areas with this project.
Syiem said the council would try to bring sustainable livelihood to farmers by taking advantage of the carbon credit market.
The PESS provides benefits through financial support of Rs 8,000 per hectare per year for five years, he said.
Under this scheme, an additional reward of Rs 5,000 per hectare per year will be given for a natural forest registered as a community reserve with the Forest Department and Rs 2,000 per hectare per year for a very dense forest or one traditionally recognised as Law Kyntang (sacred groves).
According to Syiem, Ecological Solutions will help sell carbon credits outside the country if the farmers within the council’s jurisdiction can secure the same through agroforestry.
