About Green Credit Programme (GCP):
- GCP aims to incentivise environmentally conscious practices and promote a sustainable lifestyle through a market-based mechanism.
- As per the scheme, individuals, industries, farmers producer’s organisations (FPOs), urban local bodies (ULB), gram panchayats, and the private sector, among a host of other entities, will be able to earn green credit for undertaking environment-friendly actions.
- Green credits generated through such actions can be traded on a domestic market platform.
- These Green Credits will be over and above the current discourse of carbon credits. Any activity generating green credits under the GCP will also receive carbon credits under the Carbon Credit Trading Scheme if it leads to the reduction or removal of carbon emissions.
- According to the rules, environment-friendly actions include
- tree plantation
- water management
- sustainable agriculture
- waste management
- air pollution reduction
- mangrove conservation and restoration
- ecomark label development
- sustainable building and infrastructure
- Apart from incentivizing individual/community behavior, the GCP will encourage private sector industries and companies, as well as other entities, to meet their existing obligations, stemming from other legal frameworks, by taking actions that are able to converge with activities relevant for generating or buying Green Credits.
- The green credits generated or procured by industries, companies and other entities to fulfil any legal obligation cannot be traded.
- Implementing Agency: The Indian Council of Forestry Research and Education (ICFRE), an autonomous organisation under the MoEFCC, is responsible for effectively implementing the Green Credit programme, including its management and operation.
- Phases:
- The programme will be implemented in phases.
- In the initial phase, two to three activities from the chosen sectors will be considered, and more activities will be added subsequently.
