Center tweaks Green Credit Programme norms; to focus on restoration of ecosystem

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Last Updated19/04/2024

Amid concerns that the Green Credit Programme (GCP) may encourage tree planting for financial gains the Union Environment Ministry- has clarified that primacy must be accorded to restoring ecosystems over mere tree planting.

Forest departments of 13 States have offered 387 land parcels of degraded forest land worth nearly 10,983 hectares.
Applications can be submitted by individuals and companies to Indian Council of Forestry Research and Education (ICFRE) to pay to “restore” these forests.
The actual afforestation will be carried out by State forest departments.
Two years after planting and following an evaluation by the ICFRE, each such planted tree could be worth one ‘green credit’.
These credits can later be claimed by the financing organization
The credit can be used by these organization in two ways:
- Used for reporting under environmental, social and governance leadership norms to meet corporate social responsibility (CSR) requirements.

Green Credit is an unit of incentive which is provided to individuals and entities engaged in activities that deliver a positive impact on the environment.
Green Credit operates under Green Credit Rules, 2023 which is independent of the carbon credit under Carbon Credit Trading Scheme 2023.

The Green Credit Initiative was launched by the Prime Minister on the side-lines of COP 28.
It is an initiative under the government's Lifestyle for Environment or Mission LiFE.
GCP is an innovative market-based mechanism designed to incentivize voluntary environmental actions across diverse sectors, by various stakeholders like individuals, communities, private sector industries, and companies.
This initiative involves creating an inventory of degraded wastelands, which can be utilized for planting by individuals and organizations.
Participants undertaking environmentally positive actions will receive tradable green credits.