The Ministry of Environment, Forest and Climate Change (MoEFCC) on June 27, 2023, issued notification for draft Green Credit Programme Implementation Rules 2023.
The following has been stated-
•A Green Credit Programme is proposed to be launched at the national level to leverage a competitive market-based approach for Green Credits thereby incentivizing voluntary environmental actions of various stakeholders.
•Green Credits will arise from a range of sectors and entities, ranging from small-scale ones– such as individuals, Farmer Producer Organisations, cooperatives, forestry enterprises, and sustainable agriculture enterprises; to those being developed at the level of Urban and Rural Local Bodies, private sectors, industries, and organizations.
•Green Credits will be tradable outcomes and will act as incentives. In the beginning, Green Credits will be made available to individuals and entities, engaged in selected activities and who undertake environmental interventions. These Green Credits will be made available for trading on a domestic market platform. An activity generating Green Credits under Green Credit Programme may also get Carbon Credits from the same activity under the carbon market.
The objections or suggestions if any must be submitted within the period of sixty (60) days from the date of publication of the draft in the official Gazette.
[Notification No. S.O. 2779(E).]
