GREEN CREDIT INITIATIVE (Syllabus: GS Paper 3 – Env and Eco)

News-CRUX-10     2nd December 2023        

Context: Recently, the Prime Minister of India announced a 'Green Credit Initiative,' emphasizing the creation of carbon sinks through public participation, and also proposed to host the UN climate conference in 2028, known as COP33, in India.


Green Credit Initiative

  • About: It operates on the premise that environmental conservation is intertwined with personal growth
  • Focus: It focuses on creating carbon sinks through people's participation.

oThis initiative involves creating an inventory of degraded wastelands, which can be utilised for planting by individuals and organisations. 

oParticipants undertaking environmentally positive actions will receive tradable green credits.

oThe entire process, from registration to plantation, verification, and issuance of green credits, will be digitised.

oThis initiative is similar to the Green Credit Programme.


Green Credit Programme

  • Launched: During the 2023-24 budget as part of Mission LiFE.
  • Implementation by: The Ministry of Environment has released the draft 'Green Credit Programme Implementation Rules 2023' under the purview of the Environment Protection Act of 1986.
  • 8 Sectors: Tree plantation-based green credit, Water-based green credit, Sustainable agriculture-based green credit, Waste management-based green credit, Air pollution reduction-based green credit, Mangrove conservation and restoration-based green credit, Eco-mark-based green credit, Sustainable building and infrastructure-based green credit
  • Objective: Establish a market-driven system that promotes voluntary environmental actions and individual or community behaviours by aligning supply and demand.