Question: What is the Green Credit Programme?
Answer: The Green Credit Programme is a national-level initiative in India aimed at leveraging a competitive market-based approach to incentivize voluntary environmental actions by various stakeholders.
It encourages environmentally sustainable and responsive actions by individuals, companies, local bodies, and other entities.
Role of ICFRE:
The Indian Council of Forestry Research and Education (ICFRE) plays a crucial role in the implementation of the Green Credit Programme:
Monitoring Implementation: ICFRE monitors the overall implementation of the programme, ensuring that environmental actions are carried out effectively.
Green Credit Registry:ICFRE is responsible for developing the Green Credit Registry and trading platform, which facilitates the registration and buying and selling of green credits. This platform enhances transparency and efficiency in the green credit market.
How it Works:
Eligible Entities:
Individuals, industries, farmers’ producer organizations (FPOs), urban local bodies (ULBs), gram panchayats, private sectors, and more can earn green credits for undertaking environment-friendly actions.
Environment-Friendly Actions: These actions include planting trees, conserving water, waste management, and reducing air pollution.
Tradable Credits: Green credits earned can be traded on a proposed domestic market platform, creating an incentive for entities to engage in eco-friendly practices.
Convergence with Obligations:The Green Credit Programme also encourages private sector industries and entities to align their activities with existing legal obligations related to environmental conservation.
Key Sectors for Green Credits:
Under the programme, specific sectors have been identified to qualify for Green Credits, including Tree Plantation-based Green Credit, Water-based Green Credit, Sustainable Agriculture-based Green Credit, Waste Management-based Green Credit, Air Pollution Reduction-based Green Credit, Mangrove Conservation and Restoration-based Green Credit, Ecomark-based Green Credit, and Sustainable building and infrastructure-based Green Credit.
This initiative aligns with the government’s focus on “green growth” and aims to mobilize resources for environmentally sustainable actions.
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