{"id":291892,"date":"2024-04-20T19:02:56","date_gmt":"2024-04-20T13:32:56","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=291892"},"modified":"2024-04-20T19:02:56","modified_gmt":"2024-04-20T13:32:56","slug":"supreme-court-judgment-on-forests-as-a-national-asset","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/supreme-court-judgment-on-forests-as-a-national-asset\/","title":{"rendered":"Supreme Court judgment on Forests as a national asset"},"content":{"rendered":"<p><strong>Source\u2013<\/strong> This post on <strong>Supreme Court judgment on Forests as a national asset<\/strong> \u00a0is based on the article <strong><a href=\"https:\/\/epaper.thehindu.com\/ccidist-ws\/th\/th_delhi\/issues\/79968\/OPS\/GNCCMO31G.1+GGNCMQ0OE.1.html\" target=\"_blank\" rel=\"noopener\">&#8220;Forests a national asset and major contributor to financial wealth: SC&#8221;<\/a>\u00a0<\/strong>published in \u201cThe Hindu\u201d on 19th April 2024.<\/p>\n<h2>Why in the News?<\/h2>\n<p>Recently, in a judgement the Supreme Court has asserted that forests in India are a national asset and a major contributor to the nation\u2019s financial wealth.<\/p>\n<h2>About the judgement<\/h2>\n<p>1. This judgment is particularly relevant given the ongoing controversy surrounding the Forest Conservation (Amendment) Act of 2023 (FCAA)<\/p>\n<p>2. Highlighting the role of forest, the court held that concepts of carbon credit and green accounting to evaluate a nation\u2019s wealth had become a reality.<\/p>\n<p>3. A country with surplus forest cover can sell its additional carbon credits to those lacking in forests. This underlines the significance of forests in contributing to the financial wealth of a country.<\/p>\n<p>4. The judgment said India\u2019s forests serve as a major sink of carbon dioxide (CO2).<\/p>\n<p>The value of mitigation has put a conservative value of $5 per tonne of CO2 locked in our forests, this huge sink of about 24,000 mt of CO2 is worth $120 billion, or \u20b96 lakh crores.<\/p>\n<h2>Protective role of forests against climate change<\/h2>\n<p>1. The court referred to a 2022-2023 report of the Reserve Bank of India on the macroeconomic impact of climate change and changing patterns of rainfall.<\/p>\n<p>2. These factors could cost the economy 2.8% of its GDP and depress the living standards of nearly half of its population by 2050.<\/p>\n<p><strong>UPSC Syllabus: Economy<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source\u2013 This post on Supreme Court judgment on Forests as a national asset \u00a0is based on the article &#8220;Forests a national asset and major contributor to financial wealth: SC&#8221;\u00a0published in \u201cThe Hindu\u201d on 19th April 2024. Why in the News? Recently, in a judgement the Supreme Court has asserted that forests in India are a&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/supreme-court-judgment-on-forests-as-a-national-asset\/\">Continue reading <span class=\"screen-reader-text\">Supreme Court judgment on Forests as a national asset<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,4182],"tags":[11872,10498],"class_list":["post-291892","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-environment","tag-9pm-daily-factly","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/291892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=291892"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/291892\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=291892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=291892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=291892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}