India
Government issues draft methodologies for individuals, local bodies, cooperatives to earn green credits | India News
NEW DELHI: Per week after notifying the Inexperienced Credit score Programme (GCP) for selling environment-friendly practices throughout the nation, the setting ministry has come out with two separate draft methodologies for producing such credit by way of water harvesting and tree plantation tasks in several states/UTs, and shopping for/ promoting it by way of a centrally-managed devoted platform.
The ministry in its drafts, launched final week searching for strategies or objections from stakeholders, lists state/district-wise applicable water conservation/ harvesting buildings like earthen ponds and poly tanks, and tree/ horticulture species which may be picked up for actions by people/ cooperatives or city/rural native our bodies.
Their actions will generate inexperienced credit (GCs) by way of specified calculations based mostly on a bodily verification course of. For instance, 100 GCs shall be distributed to eligible candidates for 10 years for 100 timber. “Plantation of minimal 100 timber shall be required for qualifying underneath tree plantation based mostly Inexperienced Credit score,” mentioned the draft on tree plantation tasks, noting that minimal 100 timber per hectare and most 1,000 timber per hectare shall be required to be planted.
Equally for producing inexperienced credit (GCs) for water harvesting buildings based mostly on web site location, the minimal dimension/storage capability of water conservation/harvesting buildings shall be 100 cubic metre or 1 lakh litre and most dimension of 10,000 cubic metre. People/entities can get 75 GCs per 100 cubic metre after completion of specified variety of years.
The GCP is an modern market-based mechanism designed to incentivise voluntary environmental actions. Its notification forward of the upcoming UN local weather convention (COP28) assumes significance because it displays India’s strategy of addressing environmental considerations underneath its Mission LiFE – Life-style for Surroundings – which was launched final yr as a grass-root mass motion for cover and conservation of setting and for different environmental and local weather positive factors.
People and entities should register their actions by way of the central authorities’s devoted app/web site to acquire inexperienced credit. The administrator will confirm the exercise by way of a chosen company. As soon as verification is full, the administrator will grant a inexperienced credit score certificates which shall be tradable on the inexperienced credit score platform.
The notification mentioned that the GCP is impartial of the carbon credit score underneath the Carbon Credit score Buying and selling Scheme, 2023. It famous that since an environmental exercise producing inexperienced credit score could have local weather co-benefits, equivalent to discount or elimination of carbon emissions, the GCP might also get carbon credit score from the identical exercise underneath the Scheme.
The ministry in its drafts, launched final week searching for strategies or objections from stakeholders, lists state/district-wise applicable water conservation/ harvesting buildings like earthen ponds and poly tanks, and tree/ horticulture species which may be picked up for actions by people/ cooperatives or city/rural native our bodies.
Their actions will generate inexperienced credit (GCs) by way of specified calculations based mostly on a bodily verification course of. For instance, 100 GCs shall be distributed to eligible candidates for 10 years for 100 timber. “Plantation of minimal 100 timber shall be required for qualifying underneath tree plantation based mostly Inexperienced Credit score,” mentioned the draft on tree plantation tasks, noting that minimal 100 timber per hectare and most 1,000 timber per hectare shall be required to be planted.
Equally for producing inexperienced credit (GCs) for water harvesting buildings based mostly on web site location, the minimal dimension/storage capability of water conservation/harvesting buildings shall be 100 cubic metre or 1 lakh litre and most dimension of 10,000 cubic metre. People/entities can get 75 GCs per 100 cubic metre after completion of specified variety of years.
The GCP is an modern market-based mechanism designed to incentivise voluntary environmental actions. Its notification forward of the upcoming UN local weather convention (COP28) assumes significance because it displays India’s strategy of addressing environmental considerations underneath its Mission LiFE – Life-style for Surroundings – which was launched final yr as a grass-root mass motion for cover and conservation of setting and for different environmental and local weather positive factors.
People and entities should register their actions by way of the central authorities’s devoted app/web site to acquire inexperienced credit. The administrator will confirm the exercise by way of a chosen company. As soon as verification is full, the administrator will grant a inexperienced credit score certificates which shall be tradable on the inexperienced credit score platform.
The notification mentioned that the GCP is impartial of the carbon credit score underneath the Carbon Credit score Buying and selling Scheme, 2023. It famous that since an environmental exercise producing inexperienced credit score could have local weather co-benefits, equivalent to discount or elimination of carbon emissions, the GCP might also get carbon credit score from the identical exercise underneath the Scheme.
