Merlins Wood to help reduce emission in KP and AJK
STAFF REPORT IBD: In order to implement the United Nations initiative on reducing emissions from deforestation and forest degradation, known as UN-REDD with the goal of helping countries implement REDD+ strategies, Merlins Wood has signed an MoU with the KP government to develop a REDD+ project in the province. The company also has a similar MoU in place with the AJK government. Terra Global Capital has partnered with Merlins Wood to carry out the carbon development work and market the pioneering projects.
Reducing emissions from deforestation and forest degradation (REDD) is an effort to create a financial value for the carbon stored in forests, offering incentives for developing countries to reduce emissions from forested lands and invest in low-carbon paths to sustainable development.
“The idea behind REDD was simple that countries willing and able to reduce emissions from deforestation should be financially compensated for doing so,” Leslie Durschinger, founder and managing director, Terra Global Capital, said.
She said that REDD also promotes the informed and meaningful involvement of all stakeholders including indigenous peoples and other forest dependent communities.
The goal of the project is to reduce GHG emissions from deforestation and degradation through implementation of sustainable land use practices and livelihood improvements to local communities.