Nepal is set to receive Rs 1.06 billion from carbon trade, for reducing carbon dioxide emission by storing 2.4 million tons of carbon from 2018 to 2024 in its forest spread across 13 districts of the Tarai region, according to the REDD Implementation Center under the Ministry of Forest and Environment.

According to the ministry, Nepal will get $5 for every tonne of carbon dioxide emission reduced.

Of the total amount received, 80 percent should be spent for the benefit of the indigenous and local communities, Joint Secretary Badriraj Dhungana, the spokesperson at the ministry, told RSS, the state-owned news agency. The government has already prepared a plan for this purpose and will implement it accordingly, Dhungana added.

Similarly,  Nawaraj Pudasaini, Chief of REDD (Reducing Emissions from Deforestation and forest Degradation) Implementation Centre, told RSS that an average of 167 tonnes of carbon have been accumulated per hectare from the forest area of Nepal.
 
Nepal has implemented REDD+ Strategy and other policies and regulations in relation to carbon trading since 2018. 

The REDD program has been implemented in 1.7 million hectares of area in 13 districts of the country and the target is to reduce about 34.2 million tons of carbon dioxide gas emissions by 2028. 

In the first phase, 2.3 million tonnes of carbon emissions have been found to be reduced when measured in 2023, Pudasaini said.

RSS