Green Credit Programme (GCP)

Green Credit Programme (GCP): Recently, the Ministry of Environment, Forest and Climate Change (MoEF&CC) launched the Green Credit Programme (GCP) despite the Law Ministry's concerns about its legal validity.

• About: Green Credit (GC) is an incentive unit awarded for engaging in environmentally positive activities.

o These credits can be traded on a dedicated exchange, similar to carbon credits.

o The Green Credit Programme (GCP) operates under the Environment (Protection) Act, 1986.

• Implementation of the Green Credit Programme (GCP): Launched by the Ministry of Environment, Forest and Climate Change (MoEF&CC) to enhance forest cover, promote sustainable practices, and incentivize pro-environmental actions.
• Who Can Earn Green Credits?

o Individuals, communities, and industries engaged in eco-friendly activities.

o Examples include: Afforestation & reforestation, Water conservation, and Sustainable agri.

• How Does It Work?

o Participants receive tradable Green Credits for their contributions.

o These credits can be sold to industries to fulfill environmental obligations, such as compensatory afforestation.

o Green Credits are traded on a domestic platform, helping industries meet legal environmental requirements.

• Current Status of GCP: 384 entities, including 41 Public Sector Undertakings (PSUs), have registered under the scheme.

o Major PSUs participating include: Indian Oil Corporation Ltd, Power Grid Corporation of India Ltd, & NTPC Ltd