{"id":22244,"date":"2025-03-31T05:43:26","date_gmt":"2025-03-31T00:13:26","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=22244"},"modified":"2025-04-06T18:23:54","modified_gmt":"2025-04-06T12:53:54","slug":"green-credit-programme","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/green-credit-programme\/","title":{"rendered":"Green Credit"},"content":{"rendered":"<h2>Green Credits Latest News<\/h2>\n<p>The Green Credit Programme (GCP), launched by the Ministry of Environment, Forest and Climate Change (MoEF&amp;CC), was rolled out despite concerns from the Law Ministry regarding its legal validity.<\/p>\n<h2>What is Green Credit (GC)?<\/h2>\n<ul>\n<li><strong>Green Credit (GC)<\/strong> is a <strong>unit of incentive<\/strong> provided for engaging in <strong>environmentally positive activities<\/strong>.<\/li>\n<li>These credits can be <strong>traded on a dedicated exchange<\/strong>, similar to carbon credits.<\/li>\n<li>The <strong>Green Credit Programme (GCP)<\/strong> operates under the <strong>Environment (Protection) Act, 1986<\/strong>.<\/li>\n<\/ul>\n<h2>\u00a0Green Credit vs Carbon Credit<\/h2>\n<figure class=\"table\">\n<table>\n<tbody>\n<tr>\n<td>\n<p><strong>Feature<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>Green Credit (GC)<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>Carbon Credit (CC)<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><strong>Governing law<\/strong><\/p>\n<\/td>\n<td>\n<p>Environment (Protection) Act, 1986<\/p>\n<\/td>\n<td>\n<p>Energy Conservation Act, 2001<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><strong>Beneficiaries<\/strong><\/p>\n<\/td>\n<td>\n<p>Individuals, communities, private industries<\/p>\n<\/td>\n<td>\n<p>Primarily industries and corporations<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><strong>Objective<\/strong><\/p>\n<\/td>\n<td>\n<p>Encourages <strong>environment-friendly actions<\/strong> like afforestation, water conservation, and sustainable agriculture<\/p>\n<\/td>\n<td>\n<p>Focuses on <strong>reducing carbon emissions<\/strong> by setting emission limits<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><strong>Market mechanism<\/strong><\/p>\n<\/td>\n<td>\n<p>Can be <strong>traded on a domestic exchange<\/strong><\/p>\n<\/td>\n<td>\n<p>Traded in <strong>national &amp; international carbon markets<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><strong>Climate co-benefits<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>May qualify for carbon credits<\/strong>, leading to reduced carbon emissions<\/p>\n<\/td>\n<td>\n<p><strong>Cannot be converted into Green Credits<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<h2>Implementation of the Green Credit Programme (GCP)<\/h2>\n<ul>\n<li>The <strong>Environment Ministry<\/strong> launched the <strong>Green Credit Programme (GCP)<\/strong> to <strong>enhance forest cover, promote sustainable practices, and incentivize pro-environmental actions<\/strong>.<\/li>\n<li><strong>Who can earn Green Credits?<\/strong>\n<ul>\n<li><strong>Individuals, communities, and industries<\/strong> that engage in <strong>eco-friendly activities<\/strong>.<\/li>\n<li>Examples include:\n<ul>\n<li><strong>Afforestation &amp; reforestation<\/strong><\/li>\n<li><strong>Water conservation<\/strong><\/li>\n<li><strong>Sustainable agriculture<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><strong>How does it work?<\/strong>\n<ul>\n<li>Participants receive <strong>tradable Green Credits<\/strong> for their contributions.<\/li>\n<li>These credits can be <strong>sold to industries<\/strong> that need to fulfill environmental obligations (e.g., compensatory afforestation).<\/li>\n<\/ul>\n<\/li>\n<li><strong>Green credits can be traded on a domestic platform<\/strong>, enabling entities to meet their legal obligations, such as <strong>compensatory afforestation for industrial projects<\/strong>.<\/li>\n<li>Since its launch, <strong>384 entities<\/strong>, including <strong>41 Public Sector Undertakings (PSUs)<\/strong> like <strong>Indian Oil Corporation Ltd, Power Grid Corporation of India Ltd, and NTPC Ltd<\/strong>, have registered under the scheme.<\/li>\n<\/ul>\n<h2>Green Credits FAQs<\/h2>\n<p><strong>Q1. <\/strong>What is the Green Credit Program?<br \/>\n<strong>Ans.<\/strong> It is an initiative by the Indian government to incentivize environmental actions through a market-based credit mechanism.<\/p>\n<p><strong>Q2. <\/strong>How does the Green Credit Program work?<br \/>\n<strong>Ans.<\/strong> Entities earn credits for activities like afforestation, water conservation, and waste management, which can be traded or used for compliance purposes.<\/p>\n<p><strong>Q3. <\/strong>What is the difference between Green Credits and Carbon Credits?<br \/>\n<strong>Ans.<\/strong> Green Credits cover a broader range of environmental actions, while Carbon Credits specifically address greenhouse gas emissions.<\/p>\n<p><strong>Q4. <\/strong>Which ministry is responsible for the Green Credit Program?<br \/>\n<strong>Ans.<\/strong> The Ministry of Environment, Forest, and Climate Change (MoEFCC) oversees the program.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/indianexpress.com\/article\/india\/before-rolling-out-green-credits-moef-sidestepped-law-queries-9915261\/\" target=\"_blank\" rel=\"nofollow noopener\">IE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Green Credit (GC) is an incentive unit awarded for participating in eco-friendly activities, promoting sustainability, conservation, and environmental responsibility.<\/p>\n","protected":false},"author":5,"featured_media":22245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-22244","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/22244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=22244"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/22244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/22245"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=22244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=22244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=22244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}