Green Credit Programme

Green Credit Programme

Why in news ?

Recently, the Ministry of Environment, Forest and Climate Change, Government of India has notified the draft ‘Green Credit Programme (GCP)’ implementation rules for 2023.

What is the Green Credit Programme?

  • The ‘Green Credit’ means a singular unit of an incentive provided for a specified activity, delivering a positive impact on the environment.
  • The Green Credit Programme as a mechanism that complements the domestic Carbon Market.
  • While the domestic carbon market focuses solely on CO2 Emission reductions, the Green Credit System aims to meet other environmental obligations as well, incentivizing sustainable actions by companies, individuals, and local bodies.

Green Credit Programme

Administration:

The Indian Council of Forestry Research and Education (ICFRE) shall be the administrator of the programme which will develop guidelines, processes and procedures for  implementation of the programme.

Significance:

  • The Green Credit Programme will also encourage private sector industries and companies as well as other entities to meet their existing obligations, stemming from other legal frameworks, by taking actions which are able to converge with activities relevant for generating or buying green credits.
  • The guidelines bring together mechanisms to quantify and support ecosystem services together and would be of great help for organic farmers and FPOs.

What are the Concerns Regarding Greed Credit Mechanism?

  • Experts are concerned that the market-based mechanism of green credits may lead to Greenwashing.
  • Greenwashing refers to the practice of making false or exaggerated claims about environmental sustainability or achievements to create a positive image while not actually delivering significant environmental benefits.
  • The fear is that companies or entities may engage in tokenistic or superficial activities to generate green credits without making substantial efforts to address environmental issues.

Green Credit Registry and Trading Platform:

  • Includes the establishment of a Green Credit Registry.
  • Administrator responsible for setting up and maintaining a trading platform.

Overview of LiFE Movement (Lifestyle for the Environment (LiFE) movement):

  • India introduced the concept during the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow in 2021.
  • LiFE encourages an environmentally conscious lifestyle, emphasizing mindful and deliberate utilization over mindless and wasteful consumption.
  • A circular economy, driven by conscious and deliberate consumption, is promoted as an alternative to the prevalent “use-and-dispose” economy.

Objectives of the LiFE Movement:

  • The movement aims to utilize social networks to influence climate-centric social norms.
  • It plans to establish a global network of individuals termed ‘Pro-Planet People’ (P3) who are committed to adopting and advocating for eco-friendly lifestyles.
  • The P3 community will foster an ecosystem that encourages sustainable environmental practices and aims to sustainably reinforce environmentally friendly behaviors.
  • “Meri LiFE” (My Life) mobile application
  • Ministry of Environment, Forest, and Climate Change (MoEF&CC) recently launched the “Meri LiFE” (My Life) mobile application, aiming to empower youth and encourage their active participation in addressing climate change.
  • The app focuses on five key LiFE themes, including saving energy, water, and reducing single-use plastic, adopting sustainable food systems, and promoting healthy lifestyles.
  • Moreover, the app includes a “5 for 5 Challenge,” engaging users in five LiFE actions leading up to World Environment Day on June 5th, 2023.

Additionally, the ministry has developed two portals:

The Mission LiFE Portal, providing access to a plethora of creative videos and knowledge materials related to LiFE, and the Meri LiFE Portal, enabling institutions to upload event reports and monitor the progress of the ongoing mass mobilization initiative.

Source – Indian Express

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