A joint venture of CREDUCE and HPCL has signed MoU with the north-eastern state of Arunachal Pradesh’s Bamboo Resource & Development Agency (APBRDA) for the cultivation and development of bamboo resources in the state. This is the world’s largest bamboo cultivation drive by a public-private partnership.
The agreement encompasses the plantation of 100,000 hectares of forest and village land with bamboo, also called ‘green gold’. The landmark agreement signed under the visionary leadership of the Arunachal Pradesh Chief Minister Prema Khandu is set to propel the state into the green growth phase, leading the country and the world towards carbon neutrality. Bamboo plantation and cultivation is an effective carbon sink and an integral nature-based approach to mitigating global warming. Studies have revealed that a one-hectare plantation of bamboo and its products could sequestrate 10,000 kilograms of carbon per hectare per year. The yields from this joint venture would last for over 30 years, divided into three phases of 10 years each.
The Chairman of APBRDA Tungri Effa said, “The development and plantation of ‘Green Gold’ would benefit the state as it will generate large scale employment and keep the people connected to their roots.”