Photo of tea plantations in Munnar, Kerala, India. (Photo 29785929 © Javarman | Dreamstime.com)

By Jaryn Vecchio

Carbon Project

Canadian company aims to plant 6.5 million trees on farmland in India by end of 2023

Aug 9, 2023 | 12:18 PM

A Canadian-based company has been able to plant over 2.5 million trees on degraded rural farmlands and deserted lands in northern India.

This is part of Base Carbon Inc.’s project aimed at afforestation, reforestation, and revegetation in one of India’s most populated states, Uttar Pradesh. They’ve also partnered with Value Network Ventures Advisory Services Pte Ltd. (VNV) to help finish the project.

The goal is to plant another four million trees with hopes of doing this by the end of 2023.

“As our first carbon removals project we are thrilled with the quality of both the project itself and our project partner, VNV,” said Michael Costa, CEO of Base Carbon.

Up to 16 tree species, all native to the land, will be planted. This includes fruit and nut trees which will not only help generate revenue for the area but provide food for the less fortunate. It’s believed over 30 per cent of the state’s 200 million population is identified as multidimensionally poor.

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Meanwhile, the project is expected to generate over 1.6 million carbon credits which allow countries or organizations to produce a certain amount of emissions.

These credits can also be traded with Base Carbon and VNV planning to put some of this revenue back into the project.

“By pairing Base Carbon’s valued financial structuring and capital markets knowledge with VNV’s expertise in community-based carbon project development, we anticipate a successful partnership over the coming decades,” added Sandeep Choudhury, the founder and Director of VNV.

The overall cost of the project is expected to be over US $13 million.

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Jaryn.Vecchio@pattisonmedia.com

On Twitter: @princealbertnow