New Delhi, Jul 11 (UNI) Public sector unit Oil and Natural Gas Corporation (ONGC) in a bid to sustain the fragile Himalayan ecosystem has signed an agreement with Uttaranchal Bamboo and Fiber Development Board (UBFDB) to support tree plantation in Upper Himalayas region, especially those species which can mitigate Climate Change.
According to an official release issued here today, ONGC also handed over a cheque amounting to Rs 54.41 lakhs to UBFDB towards this project.
Under this agreement, ONGC and Uttranchal Bamboo and UBFDB of Uttarakhand will work together on the project. These plants are very vital constituents of ecosystem, facilitating carbon sequestration, and hence mitigate adverse impacts on climate due to release of huge quantities of carbon dioxide and other global warming agents.
The 'National Action Plan on Climate Change' of India, prepared under the guidance and direction of Prime Minister's Council on Climate Change, has eight priority areas, one of them being Sustaining the Himalayan Ecosystem'.
With this initiative, ONGC has once again taken a lead role in contributing towards the Indian Government's National Action Plan on Climate Change.
ONGC is already in the process of conservation and restoration of mangroves through Bombay Natural History Society (BNHS), Mumbai at Gulf of Cambay area at a cost of Rs 20 million.
This program also involves education and awareness about ecological significance of mangroves among various stakeholders in the coastal area of Maharashtra and Gujarat, a company statement said.
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