Carbon trade backed

MORE than 300  Incorporated Land Group (ILG) chairmen, representing 48,000 people, have given their full support to the developer Nupan PNG Trading Corporation Ltd to start work on the carbon trade project in Undeyapu and Apenda village in East Pangia.
The signing of the agreements was witnessed by more than 15,000 people and representatives of international carbon trade broker and developer Nupan PNG Trading Corporation Ltd.
Tiyebo and Associates executive chairman Timothy Tepi, acting for the ILGs, said  people of East Pangia  Forest Management Area (FMA)  want to bid for the carbon trade credits through reducing emission from deforestation and forest degrading (REDD) programme under the voluntary market.
He said this first signing paved the way for developers and the Government to recognise and fast-track the funding for the East Pangia carbon credits project.
Mr Tepi said under the project, the 48,000 plus people of East and South Pangia will  benefit from basic services generated in exchange for their forest resources.
He said the first payment of K500 was paid to 375 ILG chairmen for their meeting and sitting allowances as promised during the carbon trading launch in Apenda village in Pangia in October. 
Mr Tepi said the minority cannot stop the project, and urged politicians not to intervene in or attempt to disturb the proposed works.