Govt Releases Draft Norms For Green Credit Programme

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The Ministry of Environment and Forest (MoEF) has issued draft rules for the Green Credit Programme. Under this, the ministry plans to incentivize individuals and other entities for their voluntary pro-environment and conservation works. The government plans to start the incentivization programme in a phased manner. 

“A phased and iterative approach for implementation of the Programme will be adopted. In the initial phase, two to three activities from the sectors…will be considered for designing and piloting the Programme. More activities will be added from the selected sectors in subsequent phases. More sectors can also be added with the approval of the Central Government,” the order said. 

The ministry has mulled starting this as a national-level programme to create a competitive market-based approach for Green Credit. The notification from the ministry said that apart from incentivizing the individuals, this programme will also encourage the private sector industries and companies to meet their existing obligations, stemming from other legal frameworks by taking actions that can converge with activities relevant to generating or buying Green Credit. 

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The ministry said these credits could arise from several sectors and entities like individuals, Farmer Producer Organisations (FPOs) Cooperatives, Forestry enterprises, and sustainable agriculture enterprises. It will also imply local bodies, private sectors, industries, and organizations at urban and rural levels. The new draft norms make Green Credits tradable outcomes and will act as incentives. 

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The draft rules have identified eight broader segments where Green Credit could be given. It included Green Credits for tree plantation, water conservation, and waste management: air pollution reduction measures, mangrove conservation, economy-based, sustainable building and infrastructure. 

The draft rules said that thresholds and benchmarks would be developed for each Green Credit activity to generate and issue Green Credits. It has also proposed the constitution of a Steering Committee with members from the concerned ministries and departments, experts and industry experts, and others. This panel would work to frame norms, rules, reporting, measurement, verification and make recommendations to the government. 

It has also designated the Indian Council of Forestry Research and Education to act as the Green Credit Programme Administrator and take up several administrative works under the programme. The draft rules also proposed the constitution of a Technical committee to look into the technical aspects of the programme. The rules said there would be a central Green Credit Registatory for the smooth functioning of the programme. 

The ministry has asked the stakeholders and the general public to send feedback and suggestions on the draft rules within two months.