Download Press Release - Dehradun event Final

W E L S P U N ENERGY LIMITED
Press Release
Welspun Energy Collaborates with ICFRE for Increasing India’s Forest Cover
ICFRE and Welspun Energy Ltd to Work for innovations in Forest Carbon finance
The Indian Council of Forestry Research and Education (ICFRE) partners with Welspun Energy to
organize a workshop in Dehradun
30 of Nation’s finest minds congregate to devise solutions for forest conservation and
augmentation
Public private model for increasing India’s Forest Carbon Market
India needs innovations in Climate Change mitigation and adaptation: Dr. V.K. Bahuguna,
Director General ICFRE
Mumbai, May 28th, 2013: The Indian Council of Forestry Research and Education (ICFRE) and
Forest Research Institute Dehradun (FRI) in collaboration with Welspun Energy Ltd. (WEL), India’s
foremost renewable energy generator, organized a workshop titled ‘Innovation for Forest Carbon
Finance in India’ on 28th May 2013 at FRI’s Dehradun campus. Keeping the role of the carbon
markets and forestry as the centre of discussion, representatives of USAID, TERI, Indira Gandhi
National Forest Academy and Institute of Green Economy were among those who were present.
The workshop aimed to deliberate and achieve a broader and inclusive consensus by inviting leading
minds from research institutes, scientists, representatives of Industry and State and Central
Government. Through the workshop WEL and ICFRE are aiming to suggest robust policy
recommendations to the Government of India for increasing forest cover promoting industrial
plantation in a Public Private Partnership (PPP) mode.
Dr. Bahuguna, D.G. ICFRE in his inaugural address had stressed that “India needs innovations in
Climate Change mitigation and adaptation strategy. About 2 lakh villages in the country are
situated around fringe forests. Innovations are needed on how to involve our communities and
research organisations to play a major role in Climate Change mitigation and adaptation. There is
need to aware people at grass root level about mitigation and adaptation of climate change”
Welspun Energy is committed to environment sustainability and advancing action for mitigating
climate change. During the workshop WEL proposed a solution for the disappearing forests of India
through its white paper on Grow Forest Mechanism/Certificate (GFC).
About Grow Forest Mechanism
The Grow Forest Mechanism (GFM) will address the issues of climate change and provide an
economically feasible & sustainable strategy through social inclusion and environment
sustainability. Our initiative seeks for a possible solution for the development of the degraded
forest lands for environmental sustainability.
The most promising concept of the Grow Forest Mechanism is the involvement of private sector
organizations to reforest and maintain degraded forest land patches. These organizations will be
rewarded with an economic instrument viz. Grow Forest Certificate (GFC) which is similar to the
tradable Certified Emission Reduction (CER). GFCs shall be awarded by the local Government Forest
Ministries after scrutinizing and evaluating the redevelopment of the forest lands over a period of
five years, based on the state of the forest.
“Today Forest carbon accounts for more than 20% of global voluntary market, though small in
volume. Voluntary carbon markets have allowed the emergence of innovative tools and compliance-
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grade forest carbon offset supply. But the demand side needs to be addressed, as voluntary market
is not sufficient to drive growth of forest carbon. Governments and business should interact on the
issue of voluntary action around climate change mitigation.” said Dr. P.P. Bhojvaid Director FRI.
Speaking on the partnership and GFC, Mr. Vineet Mittal, Co-Founder & Managing Director
Welspun Energy commented “ICFRE is one of the best institutions in the country in forest research
and widespread implementation of developed technologies. It has been a pleasure to partner with
them. Our concept offers an economically feasible and sustainable strategy to increase India’s
forest cover. This initiative seeks a possible solution for the development of the degraded forest
lands for environmental sustainability. The concept aims towards incentivizing the increase in
forest canopy cover through a Public Private Partnership (PPP) model.”
India needs domestic offset schemes to engage private sector players. Perform Achieve and Trade
(PAT) is one such initiative has been taken in Energy sector. The failure of CDM Forestry has led to
the success of voluntary schemes.
In the current framework, the developers seeking diversion of forest land need to offer alternate
revenue land to concerned forest departments, in lieu of forest land being diverted. This has
resulted in only quantitative conservation of forest land. Policy makers need to develop a
sustainable solution wherein the forest conservation activities result in sustaining and augmenting
forest cover in both quantitative and qualitative manner i.e. maintaining and improving the quality
of forest along with its coverage.
About Welspun Energy Ltd.: (www.welspunenergy.com)
Welspun Energy Ltd. (WEL) is a leading independent developer of renewable energy projects with a
vision of commissioning 1.75 GW of solar & wind projects. Presently Welspun Energy has built up
more than 300 MW clean energy capacity on-ground, of this 111 MW clean energy projects are
operational. The clean energy generator has time & again demonstrated its ability to design,
engineer and build renewable projects with high performance outputs and low cost - delivery
period. Part of the US$ 3.5 billion Welspun group, WEL draws on the know-how of its specialized
team of scientists and engineers to design projects by employing cutting edge technologies. It also
holds the distinction of winning India’s largest solar project of 151 MW. Through its strong
commitment to triple bottom line, WEL is working for underserved communities in areas of
education, empowerment & healthcare. It is presently mitigating over 224,694 tones of CO2
emissions annually.
About Forest Research Institute Dehradun: (www.fri.icfre.gov.in/)
Forest Research Institute (FRI) Dehradun, is a premier institution under the Indian Council of
Forestry Research and Education (ICFRE). The Institute's history is virtually synonymous with the
evolution and development of scientific forestry, not only in India, but over the entire Indian subcontinent. The Institute caters, in particular, to the research needs of the Indo-Gangetic plains of
Punjab, Haryana, Chandigarh, Delhi and Western Uttar Pradesh, as Well as the U.P. Himalayas.
Forestry research at the FRI is organized under fourteen divisions. Set in a lush green estate spread
over 450 hectares, with the outer Himalaya forming its back drop, the Institute's main building is an
impressive edifice, marrying Greco-Roman and Colonial styles of architecture, with a plinth area of
2.5 equipped laboratories, library, herbarium, arboreta, printing press and experimental field areas
for conducting forestry research, quite in keeping with the best of its kind anywhere in the world.
Disclaimer:
The information in this release has been included in good faith and is for general purposes only. It
should not be relied upon for any specific purpose and no representation or warranty is given as
regards to its accuracy or completeness. No information in this press release shall constitute an
invitation to invest in Welspun Energy Ltd. or any of its affiliates. Neither Welspun Energy Ltd., nor
their or their affiliates' officers, employees or agents shall be liable for any loss, damage or
expense arising out of any action taken on the basis of this press release, including, without
limitation, any loss of profit, indirect, incidental or consequential loss.
W E L S P U N ENERGY LIMITED
For further information, please contact:
MSL Group
Davesh Mathur
Email: [email protected]
Handphone: +91 9811549035
Welspun Energy Ltd.
Surbhee Jain
Email: [email protected]
Handphone: +91 9560999238