2012 World Business and Development Award to “ITC” at Rio+20
ITC Limited bagged the 2012 World Business and Development Award at the Rio+20 UN Summit at Rio de Janeiro, Brazil.
· The award has been conferred on ITC in recognition to ITC’s transformational rural initiatives in social and farm forestry programs in India.
· ITC’s social and farm forestry programs offer sustainable livelihoods to rural wasteland holders by assisting them transform their wastelands into pulpwood plantations. ITC’s research and development unit supplies then with high-yielding, disease resistant clonal saplings with shorter harvesting cycles. Farm forestry targets farmers owning wastelands. Social forestry focuses on resource-deficient tribals and farmers. Presently the programs are expanded over 125,000 hectares creating over 56 million person-days of employment. Reviving green cover on such a large scale has not only facilitated carbon sequestration but has also enhanced moisture conservation, groundwater recharge and has reduced erosion.
The award has been introduced by the UNDP, International Chamber of Commerce and the International Business Leaders Forum in collaboration with the Netherlands Ministry for Foreign Affairs, Swedish International Development Cooperation Agency and the UN Global Compac.
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Month: Current Affairs - June, 2012