MoEF&CC notifies ‘Green Credit’ Rule 2023 draft, invites suggestions
| Date :03-Jul-2023 |
By Kaushik Bhattacharya
The Ministry of Environment, Forest and Climate Change (MoEFCC) has notified the draft of the ‘Green Credit Programme (GCP)’ implementation Rule-2023. The GCP was announced by Finance Minister Nirmala Sitharaman during the Union Budget, tabled in February this year. Now, the MoEF&CC has invited suggestions on the draft notification. Under this programme, individuals, farmer producer organisations, urban local bodies, Gram Panchayats, and private sector, among a host of other entities, will be able to earn ‘Green Credit’ incentives for their acts which have positive environmental outcome and help in combating climate crisis.
The programme aims to create a market-based mechanism for these entities to earn incentives in the form of Green Credits. The green credits will be tradable and those earning it will be able to put these credits up for sale on a proposed domestic market platform. The draft notification is out in public domain for 60 days, inviting objection and suggestion after which the rules will be notified. Objections or suggestions, if any, may be addressed to the Joint Secretary, Ministry of Environment, Forest and Climate Change, Indira Paryavaran Bhawan, Jor Bagh Road, New Delhi - 110003, and may be sent to e-mail id: [email protected].
The notification of draft rules comes almost five months after Union Finance Minister’s announcement in the 2023-24 budget. An activity generating Green Credits under GCP may also get Carbon Credits from the same activity in carbon market. Stakeholders can earn ‘Green Credit’ by encouraging eight major factors - Tree Plantation; Water Conservation; Sustainable Agriculture; Waste Management; Air Pollution Reduction; Mangrove Conservation and Restoration; Ecomark; and Sustainable Building and Infrastructure in their surrounding. For effective implementation of the programme, the government will constitute a Steering Committee which will comprise of representatives from the concerned Ministries/Departments, domain experts, industry associations and other relevant stakeholders. Along with this, a technical committee will be also formed which will be responsible for all type of technical aspects of the programme.
“GCP is a step ahead of Government of India’s ‘Lifestyle for Environment’ programme, wherein mass movement at grass root level is being advocated for combating climate change and adopting sustainable lifestyle,” Kaustav Chatterjee, Founder, Green Vigil Foundation told The Hitavada. “It will take some more time to get totally implemented, as lot of ground work needs to be done which starts with development of thresholds and benchmarks for each Green Credit activity followed by development of methodologies, formation by various committees, approvals, sanctions, standards for credit, final audit and so on,” Chatterjee added. Hopefully, Green Credit programme will increase participation of common man as well as industries to a large extent, green activist added. Sudhir Paliwal, Convenor of Vidarbha Environmental Action Group said, “It is good initiative by Central Government but it should be implemented honestly and all stakeholders should be given equal opportunity.” Paliwal also raised question over the mechanism that can redeem the Green Credit points. “The Government should make it clear as to how individuals can get the benefits in exchange of their credit points and where they should approach for it.” “Vidarbha Environmental Action Group will send these suggestions the Ministry on this draft soon and we are hopeful that the Government will implement the changes accordingly,” said Paliwal.