OIL Signs MoU For Carbon Sequestration And Restoration Of Degraded Forest Land In Digboi

Duliajan, May 01, 2022: Oil India Limited signed an MoU with Digboi Forest Division, Assam Forest Department on 29^th April 2022 for a project on Carbon Sequestration and Restoration of Degraded ForestLand in Upper Dihing Reserved Forest (west block) under Digboi Forest Division. The initiative has been undertaken under OIL’s CSR project Vasundhara.

The MoU was signed by Pallab Barman, CGM-FHQ Affairs from OIL and T C Ranjthram, DFO from Digboi Forest Division in the presence of Ravi Shankar Prasad, IAS, Addl Chief Secretary, Government of Assam, Prasanta Borkakoty, Resident Chief Executive, OIL and other officials from OIL and Govt of Assam.

Under the project,reforestation and afforestation in 100 hectare of degraded forest area is planned to be undertakenthrough plantation of 2,50,000 nos. of saplings by March 2025. Apart from plantation, establishment of a Bambusetum and other activities to reduce dependency on the forest by providing alternate livelihood opportunities is also planned to be undertaken.

Speaking on the occasion, Ravi Shankar Prasad commended OIL for taking up environment initiatives under CSR to regenerate and replenish the natural contiguous forest. He further added that such initiatives will go a long way in enriching the forest cover thereby improving the habitat for animals.

Prasanta Borkakoty, RCE, OIL in his address expressed OIL’s firm commitment to sequester significant amount of carbon annually thereby offsetting the carbon produced. He added that OIL is committed to contribute towards achievement ofSustainable Development Goals (SDGs) and India’s global commitment towards Climate Action Plan for creating carbon sink and achieve net zero target.