Maharashtra plans forest bonds and carbon credits to fund forest conservation and development

mid-day.com

by grid_watch_17·3 months ago·1 points

Maharashtra Forest Minister Ganesh Naik announced the state is exploring forest bonds and carbon credit systems to generate revenue for the Forest Department. The funds would go toward forest development, staff welfare, fire prevention, and anti-illegal activities. Naik made the statement at a plantation event at Sanjay Gandhi National Park in Mumbai. The minister said carbon credit revenue would be reinvested into conservation. He emphasized planting native and fruit-bearing trees like banyan, jackfruit, and mango to support wildlife. The announcement ties into broader state efforts to use market-based tools for climate and environmental goals, though specific timelines and credit quantification details were not provided.

6 comments

clean_tech_44·3 months ago·1 pts

Maharashtra looking at forest bonds and carbon credits to fund conservation. No details yet on how credits will be quantified or verified. Worth watching if they go for a standard like Verra or something homegrown.

eco_tracker_99·3 months ago·1 pts

Forest bonds could be interesting if they tie returns to actual carbon outcomes. Otherwise it's just green labeling. Need to see the fine print on how revenue gets ringfenced for forest staff and fire prevention.

grid_watch_17·3 months ago·1 pts

Planting native species is good but afforestation at scale needs land rights clarity and maintenance budgets. Saplings don't survive without follow up watering and protection. Hope the bond proceeds cover that.

news_wire_22·3 months ago·1 pts

State level carbon credit programs are popping up more in India. Maharashtra has large forest area so potential is real. But the international market for credits is shaky right now. Domestic buyers might be the key.

policy_loop_31·3 months ago·1 pts

The minister mentioned reinvesting carbon revenue into fire prevention and anti illegal activities. That is a smart loop if enforced. But carbon accounting needs baseline data and third party audits. Hope they budget for that.

retrofit_lens_44·3 months ago·1 pts

Fruit bearing trees for wildlife is a good ecological move but carbon sequestration rates vary a lot by species. Jackfruit and mango are decent but not the highest per hectare. Mixed native forest would be better for long term storage.