Maharashtra Forest Department Plans Green Bonds for Conservation Funding
Maharashtra is exploring green bonds and carbon credits to fund forest protection and staff welfare initiatives. This financial strategy aims to address funding gaps for extensive afforestation projects, including a plan to plant 300 crore trees.
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The Maharashtra forest department is evaluating forest-related assets to explore green bonds and carbon credits as funding mechanisms for conservation and welfare initiatives. Forest Minister Ganesh Naik announced that the Forest Development Corporation of Maharashtra Ltd will oversee this preliminary initiative, which includes appointing financial advisors.
A ₹7-crore housing complex for forest officials has been launched, alongside plans to enhance benefits for forest guards. Additionally, a ₹750-crore development plan for Sanjay Gandhi National Park aims to improve visitor amenities. Proposed measures to reduce human-wildlife conflict include planting fruit-bearing trees to keep prey species within the park, preventing leopards from entering urban areas.
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