Pact signed for developing bamboo resources in Arunachal Pradesh

OUR CORRESPONDENT

ITANAGAR: Creduce and Hydel Consultants Private Limited (HCPL) on Wednesday inked a memorandum of understanding (MoU) with the Arunachal Pradesh Government for cultivation and development of bamboo resources in the State.

The MoU was signed with the Arunachal Pradesh Bamboo Resource & Development Agency (APBRDA) at a function held here.

This is the world's largest bamboo cultivation drive by a public-private partnership. The agreement encompasses the plantation of 100,000 hectares of forest and village land with bamboo, also called as 'green gold'. The landmark agreement, signed under the visionary leadership of Chief Minister Pema Khandu, is set to propel the State into the green growth phase, leading the country and the world towards carbon neutrality.

"Through this agreement, we will be able to cultivate 100 million carbon credits in 10 years, which will be valued at $1.5 billion over the same period. These carbon credits were waiting to be captured and shared for the public resources. We are truly honored to be tasked with the opportunity to help the State and the country. We will make the most of this effort," Creduce Managing Director Shailendra Singh Rao said.

The yield from the joint venture would last for over 30 years, divided into three phases of 10 years each. The effort is the first among many more to come as all the Northeastern States have fertility for bamboo cultivation.

"We are extremely bullish with the green opportunity presented by the Northeastern States like Arunachal Pradesh. They have the requisite land and a strong political will to bring change among the locals and emerge as the flag bearer of India's green revolution. We are proud to be partners with such professional government agencies," revealed HCPL Managing Director Kartik Upadhyay.

Bamboo plantation and cultivation is an effective carbon sink and an integral nature-based approach to mitigating global warming.

Studies have revealed that a one-hectare plantation of bamboo and its products could sequestrate 10,000 kilogram of carbon per hectare per year, making them effective green gold ventures.

Speaking on the occasion, APBRDA Chairman Tungri Effa said, "We are proud to be the torchbearer of this exciting new project. It is in line with the vision of Prime Minister Narendra Modi, who has resolved to make India clean and green by 2030. The development and plantation of 'green gold' would benefit the State as it will generate large-scale employment and keep the people connected to their roots."

Established in 2012 by Shailendra Singh Rao and Vishwaraj Singh Rao, Creduce is Ahmedabad-based and India's leading services provider in the field of climate change and carbon asset management.

Creduce provides services to enable people and businesses to live a 'carbon conscious' life, a concept that is aggressively defining the landscape of how people live and utilize the earth and its resources.

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