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PANEL APPROVES SCHEME TO ‘TRADE’ IN FORESTS

Why in news?

  • The Forest Advisory Committee, an apex body tasked with adjudicating requests by the industry to raze forest land for commercial ends, has approved a scheme that could allow “forests” to be traded as a commodity

More information

  • It allows the Forest Department to outsource one of its responsibilities of reforesting to non­government agencies.
  • In the current system, industry needs to make good the loss of forest by finding appropriate non- forest land equal to that which would be razed.
  • It also must pay the State Forest Department the current economic equivalent  called Net Present Value  of the forest land .
  • The proposed ‘Green Credit Scheme’ allows agencies they could be private companies, village forest communities — to identify land and begin growing plantations.

Forest advisory committee works under Ministry of Environment and Forests (MoEF).

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September 2022
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