The Emission Reduction Purchase Agreement (ERPA) signed in May 2011 was indeed between the World Bank (acting as trustee for the BioCarbon Fund) and the Government of India. It was for the Himachal Pradesh Integrated Watershed Development Project (HPIWDP), aimed at generating carbon credits through improved land management practices. The agreement was a significant step in utilizing carbon finance for watershed development in India. The ERPA was valid for purchasing credits generated over a 10-year period.
Which one of the following statements regarding the Emission Reduction Purchase Agreement signed with the World Bank in May 2011 is not correct ?
Asked in UPPSC Upper Mains 2010 · Topic: Greenhouse Effect and Climate Change (Carbon Footprint, Carbon Sequestration, and Carbon Pricing Mechanisms)
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Answer: D. As per the agreement, one tonne of Carbon- di¬oxide will be equivalent to one credit unit.
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