The Union Environment Ministry has issued guidelines for the Green Credit Programme (GCP).
What is the Green Credit Programme (GCP)?
- The government of India notified the GCP on October 13, 2023, as an innovative market-based approach.
- This programme is part of the larger ‘LiFE’ campaign (Lifestyle for Environment), which encourages and rewards volunteer environmentally friendly acts.
- It involves a variety of stakeholders, including individuals, farmers, communities, private sector industries, and businesses.
- The Indian Council of Forestry Research and Education (ICFRE), headquartered in Dehradun, is the GCP Administrator, in charge of programme implementation, management, monitoring, and operation.
- Initially, the GCP emphasises water conservation and afforestation.
What are Green Credits?
- The green credit rules notified under the Environment (Protection) Act 1986 describe ‘green credit’ as a single unit of incentive offered for a specific activity that has a beneficial environmental impact.
- Each tree planted and evaluated by the ICFRE after two years may provide one ‘green credit,’ which can be used in two ways:
- Compliance with forest rules requires compensation for forest land diversion.
- Meeting corporate social responsibility criteria or reporting in accordance with environmental, social, and governance standards.
Notable Feature: Green Credit Registry
- The ICFRE is working with specialists to create a Green Credit Registry and trading platforms that will make it easier to register, purchase, and sell green credits.
- Individuals and companies must register their actions through the central government’s dedicated app/website (www.moefcc-gcp.in) in order to receive green credits.
- The administrator checks actions through an authorised agency, with smaller projects requiring self-verification. Once validated, the administrator issues a tradable green credit certificate.
Activities under GCP
The GCP includes numerous activities, such as:
| Description | |
| Tree Plantation-based Green Credit | Encourages tree planting and other similar efforts to increase green cover. |
| Water-based Green Credit | Encourages water conservation, harvesting, and efficiency, including wastewater treatment and reuse. |
| Sustainable Agriculture-based Green Credit | Encourages natural and regenerative farming practices, land restoration, and soil health improvement. |
| Waste Management-based Green Credit | Encourages sustainable waste management strategies, such as collection, segregation, and treatment. |
| Air Pollution Reduction-based Green Credit | Promotes measures to reduce air pollution and other pollution abatement activities. |
| Mangrove Conservation and Restoration-based Green Credit | Promotes mangrove conservation and restoration, which are vital ecosystems for coastal protection and biodiversity. |
| Ecomark-based Green Credit | Encourages manufacturers to earn Ecomark labels for their products and services, which demonstrate environmental sustainability. |
| Sustainable Building and Infrastructure-based Green Credit | Encourages sustainable methods in building and infrastructure development, such as energy efficiency, renewable energy use, and environmentally friendly construction materials. |
Future Prospects
- The scheme is now in an experimental phase, with ongoing discussions about quantifying shrub and grass contributions to green credits.
- Equivalence of green and carbon credits.
- Allocation of credits for compensatory afforestation.
Source: https://www.thehindu.com/news/national/centre-tweaks-green-credit-programme-norms/article68076591.ece