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| Last Updated:: 01/11/2023

Green Credit Program (GCP)

 

Notification issued for Green Credit Program (GCP) and Ecomark scheme Under LiFE Initiative to Promote Sustainable Lifestyle and Environmental Conservation

Tín dụng xanh (Green Credit) là gì? Vai trò và sự cần thiết của tín ...

Green Credit programme is being launched at national level to leverage a competitive market-based approach for green credit for incentivizing environmental actions of various stakeholders
 
The Government of India has introduced ‘LiFE'-'Lifestyle for Environment’, as a grass-root, mass movement, for protection and conservation of environment and for other environmental and climate gains, by enhancing environmental actions that propagate a healthy and sustainable way of living based on traditions and values of conservation and moderation, and for sustainable and environment-friendly development;
 
An innovative market-based mechanism to incentivize environment positive actions will help promote the LiFE movement, which aims at encouraging sustainable lifestyles by driving consumer and community towards behavioral changes that promote environment friendly actions;
 
The Green Credit programme is independent of the carbon credit under the Carbon Credit Trading Scheme, 2023 made under the Energy Conservation Act, 2001 (52 of 2001), an environmental activity generating green credit may have climate co-benefits, such as reduction or removal of carbon emissions and an activity generating green credit under Green Credit programme may also get carbon credit from the same activity under the said Scheme;

Green Credit programme

 
 
(1) Any person or entity may take any measure specified under Point (2) for the purposes of protection, preservation, or conservation of the environment.
 
 (2) The measures may include the following activities, namely:
 
Tree Plantation, Water Management, Sustainable Agriculture, Waste Management, Air Pollution Reduction, Air Pollution Reduction, Mangrove Conservation and Restoration, Ecomark Label Development, Sustainable Building and Infrastructure
 
  1. Tree Plantation — to promote activities for increasing the green cover across the       country;
  2. Water Management — to promote water conservation, water harvesting and water use efficiency or water savings, including treatment and reuse of wastewater;
  3. Sustainable Agriculture — to promote natural and regenerative agricultural              practices and land restoration to improve productivity, soil health and nutritional value of food  produced;
  4. Waste Management — to promote circularity, sustainable and improved practices for waste management, including collection, segregation, and environmentally sound      management;
  5.  Air Pollution Reduction — to promote measures for reducing air pollution and other pollution abatement activities;
  6. Mangrove Conservation and Restoration — to promote measures for conservation and restoration of mangroves;
  7. Ecomark Label Development — to encourage manufacturers to obtain ecomark      label for their goods and services;
  8. Sustainable Building and Infrastructure — to encourage the construction of sustainable buildings and other infrastructure using environment friendly technologies and materials.

 

Administrator

 
 
(1) The Indian Council of Forestry Research and Education, a Society registered under the Societies Registration Act, 1860 (21 of 1860) vide Registration No.596/1990-91, dated the 12th March, 1991 and an autonomous body as declared by the then Ministry of Environment and Forests, Government of India vide Resolution No.1-8/89-RT, dated the 22nd June, 1990, shall be the Administrator under these rules.
 
(2) The Administrator shall be responsible for the effective implementation of the Green Credit programme, including its management and operation under these rules.
 
(3) The responsibilities of the Administrator shall include the following, namely:—
  • Develop guidelines, processes and procedures for the implementation of the green    credit programme under these rules;
  • Develop methodologies, registration process, guidelines and associated measurement, reporting and verification mechanism;
  • Establish methodologies and processes for issuance of green credit (including issuance of digital green credit), and equivalence of green credit generated from each identified activity;
  • Develop guidelines for the establishment and operation of the Green Credit Registry and trading platform; for self-certification or third-party certification for the registration  of an activity for issuance of green credits and its inspection and verification by designated agency, for empanelment of auditors and audit by such auditors;
  • Establish or designate the Green Credit Registry, and trading platform service provider in accordance with the approved guidelines;
  • Develop guidelines for the green credit programme portal, the knowledge and data    platform, and for the fees from the registered entities;
  • Develop guidelines for filing of annual returns and progress reports by designated       agency, Registry, trading platform and knowledge and data platform;
  • Develop guidelines for the market stability mechanism for trading of green credit.
  • Regulate matters relating to trading of green credit certificates and to safeguard          interest of sellers and buyers; and take preventive and corrective actions to prevent fraud or mistrust.

 

(4) The Administrator shall seek approval of the Central Government for guidelines and methodologies Under point (3).