Sundarban, worlds largest mangrove forest, has a reserve of 5.6 crore tonnes of carbon in the Bangladesh part which is worth Tk 18,816 crore. The data is found in a recent survey by the Forest Department of Bangladesh which was conducted with financial and technical support from USAID, Silver Carbon, Food and Agriculture Organization of the United Nations (FAO). The survey was launched on December 10, 2016.
The survey also finds the carbon can be extracted without causing any harm to the forest.
The surveyors collected information from 173 sample plots in the Sundarbans out of total 1,858 across Bangladesh. The study revealed detailed information about forest resources, trees and its types, wood and fuel wood, carbon reserve and other facilities provided by the Sundarbans.
The Environment, Forests and Climate Change Ministry and the USA jointly conducted a feasibility study titled ‘Sundarbans Foreign Carbon Inventory 2009’ in 2009 before the survey.
Experts involved in the survey said the ministry is yet to give permission to sell the reserved carbon.
Besides, Bangladesh has not yet registered at the international carbon stock market even in 10 years after the initiation of the ‘Sundarbans Foreign Carbon Inventory’. It is still to appoint any international broker house to this end.
According to the current price in the Chicago carbon market, the carbon reserve in the Sundarbans would help the country earn Tk 18,816 crore. The World Bank’s observatory report released on January 25 last said the carbon price will rise from $40 to $80 per metric tonne by 2020 and to $100 by 2030.
Chief Conservator of Forest, Md Shafiul Alam Chowdhury, suggested that the carbon stock in the Sundarbans can be sold to carbon emitting developed countries and multinational companies.
According to the Kyoto Protocol, carbon trading allows nations who are unable to meet their reduction targets to purchase carbon credits under a unified regulatory framework. The carbon credits can be purchased from other member nations who own a GHG quota that they no longer require or alternatively new credits can be created through the financing of projects that reduce GHG emissions.
It says any developing country protects its forest resources and takes initiative of reforestation in decayed forests, it can sell carbon to developed countries. A developed country can purchase the amount of carbon it emits.
Prof Nazmus Sadat of the Forestry and Wood Technology Discipline at Khulna University said the sale of the carbon reserve in the world market will not affect the Sundarbans. But, he strongly recommended to take some steps before entering the carbon market.
