Carbon credits yield AP ryots a fortune - The Times of India
However, after becoming part of a programme developed by Veda Climate Change Solutions Limited (VCCSL) to sell carbon credits, his fortunes changed. Half a decade later he has banked in Rs 1.63 lakh for growing eucalyptus and an additional Rs 28 lakh for selling the wood to a paper mill.
And Narsimharaju is not alone. He is among 1500 farmers owning 1600 hectares in Andhra Pradesh and Orissa that claim to have become the first lot of farmers in Asia and the second in the world to rake in the moolah by selling carbon credits.
While growing trees earned them carbon credits, selling the wood after a period of five years to paper mills helped them earn additional income.