Financial Reward Schemes for Climate Change: A Positive Step

Financial Reward Schemes for Climate Change: A Positive Step

Emission cuts from deforestation must be addressed. If any country has to prosper in the long run, sustainable development is the key to it. The latest move by the government to draft a policy document to address this problem is a positive move. Environmental experts have discussed how the impact of climate change has the capacity to impact the health of the people and the future of the world. Scientists have also drawn up various climate change models predicting variations in the pattern and flow of temperatures across the world.

Environmentalists have also indicated that global average temperatures must be stabilised to at least 20 Celsius less than the present conditions. It will be impossible to gain this without a reduction in emissions from the forest sector. Other mitigation actions are also needed. But emission cuts from deforestation are the most effective way to initiate positive steps for climate change. India is one of the most polluted countries in the world. It is also one of the top polluters in the world.

Drafting a national policy aimed at reducing carbon emissions from deforestation in concordance with the global scheme that financially rewards developing nations for initiating any such initiatives is a good first step forward. Whether the policy is implemented and carried forward is also critical. India is currently facing elections and there may be a change in leadership. Regardless of who is at the realm, leaders and administrators should work to preserve the ecology and ward off climate change.

Some ecologists are also sceptical about the move. This is because past precedents are not positive. Greenpeace has indicated that while schemes for emission cuts for deforestation are always welcome, past records show that previous such compensation schemes have not led to serious cuts in emissions. India has one of the largest forest covers in the world. It has the tenth largest forest coverage across the globe.

Unfortunately, India is also the fifth largest emitter of greenhouse gases. It accounts for 5% of the total emission of greenhouse gases in the world. Deforestation and forest degradation are to blame for nearly 20% of the emissions according to the UN. Agricultural expansions and farming practices have led to a great change in the way forest cover has been maintained in the past few years. Infrastructure development and wildfires are contributing further to climate change and global warming.

The UN backed REDD+ (Reducing Emissions from Deforestation and Forest Degradation Scheme) aims at creating a financial value for carbon in forests, by offering rewards and incentives for developing countries to reduce emissions from forested lands. Sustainable development is the key here.

To acknowledge the carbon function of forests is in itself a positive step. The aim to develop a fair and transparent participatory means of sharing the financial rewards out of national and international mitigation programs is equally important. The participation of local communities in the conservation efforts is also an important in the conservation process.

Building a roadmap for the implementation of REDD+ projects and programs is the key to gaining success in conservation programs. Nearly 300 million people depend on forestlands for occupation. Around 20% of the total territory of the country comprises of forest lands. There is a considerable scope for improving the quality of forest cover. But any program has to be implemented effectively in order for it to be successful.

Possible roadblocks could occur in the project if companies feel that they can earn more by engaging in over development of forest land and ignoring the regulation of carbon emissions. Apart from highlighting the rewards, it may also be beneficial if the communities and companies were shown the negative impact of ignoring the needs of the forest too.

Learning more about how to protect the environment is a responsible action. It signifies a commitment to the well-being of the planet and the future generations. If steps are not taken to address global warming and climate change, the future of the human race may become a question mark instead of a triumph.