Using Blockchain Technology Social Entrepreneur from IIT Aims to Plant 10 Million Trees

Dr. Nilratan Shende, an IIT Bombay alumnus and social entrepreneur, is spearheading a transformative initiative aimed at addressing poverty, hunger, and environmental degradation. Through his organization, EAGL Livelihood Foundation, Dr. Shende is working towards planting 10 million trees and empowering 2 lakh farmers while conserving $59 million in carbon credits.

A flagship project of EAGL, Vasundhara, pioneers the integration of blockchain technology in agro-forestry to combat the escalating challenges of global climate change. By forging innovative public-private-community partnerships, the project ensures regulatory compliance, monitors environmental impact, and guarantees transparency throughout the project lifecycle.

The vision behind EAGL and subsequently Vasundhara evolved from Dr. Shende’s PhD research at IIT Bombay, which focused on poverty and hunger among tribal communities in Maharashtra. “We started EAGL to eradicate poverty and reduce the vulnerabilities that lead to exploitation in these communities. It was essential for us to create a scalable model that could empower people, foster social inclusion, and contribute to nation-building,” said Dr. Shende.

He further emphasized the pivotal role of blockchain in enhancing governance and accountability in the project “Transparency, impact assessment, and tangible outcomes are vital for effective CSR project management. With blockchain technology, we have revolutionized governance and monitoring, ensuring secure, scalable solutions,” added Dr. Shende.

Multiple corporates like LTIMindtree Ltd, HDFC Bank, Happiest Mind Ltd, General Insurance Corporation of India and Protean along with others, have come forward to support and fund the initiative. Speaking about the project, Mr. Pratyush Panda, Head EGS and Sustainability at LTIMindtree Ltd said, “At LTIMindtree, we believe in fostering initiatives that not only contribute to environmental sustainability but also uplift communities. EAGL’s Vasundhara project is a perfect alignment of these goals and by supporting this initiative, we are not only helping to combat climate change but also empowering rural farmers and creating a lasting social and environmental legacy. We are proud to be a part of this transformative effort and look forward to seeing its impact grow in the years to come.”

Impact of Vasundhara Project

– Current plantation: Over 600,000 trees

– Goal for the next 5 years: 10 million trees

– Farmers to be empowered: 200,000 families

– Species planted: 10 to 12 varieties

– Land mobilized: 60,000 acres across 5 states

– Conservative carbon credit valuation: $59.9 million

– Income generation per farmer: INR 1 lakh within five years, with potential for exponential growth.

Not only focusing on ecological restoration through extensive tree planting, but the project also unlocks substantial economic avenues for rural farmers. The income generation projections offer a promising pathway towards sustainable livelihoods and inclusive growth.

Disclaimer: This media release is auto-generated. The CSR Journal is not responsible for the content.