Sindh forest dept, UK firm sign pact
KARACHI: Sindh Forest Department has signed a Memorandum of Understanding (MoU) with Merlins Wood Limited (UK) here on Tuesday, which will raise and arrange funds worth $8-10 million from various sponsors for the project, REDD +, aimed at developing forest areas.
According to an official handout, the MoU was signed by Chief Conservator of Forests Sindh Riaz Ahmed Wagan on behalf of Government of Sindh and Director Merlins Wood Limited (UK) Surreikha Khan in Karachi in the presence of secretary forest & wildlife department and other officials. Under this MoU, the Merlins Wood Limited would develop an emissions reduction programme in the forestry sector of Sindh province.
This programme will help conserve, develop and manage the forest areas for the social, economic and ecological welfare of local people and also mitigate the adverse impact of climate change as well as earn carbon credits.
Fifty thousand hectare of pilot forest areas in mangroves, riverine and irrigated plantations of Sindh have been earmarked for REDD + Project.
The Merlin Wood Limited and its partners will provide investment into the forestry sector in Sindh under the voluntary carbon offsets market (REDD+) and compliance market under the Clean Development Mechanism (CDM).
The duration of MoU for pilot phase will be eight years upto 2020 (Kyoto Protocol Extension date) and extendable upto 30 years on the compliance of mutual agreed terms and conditions.