Daily News Analysis » April 2024 » Green Credit Programme (GCP) : 17 April 2024

Green Credit Programme (GCP) : 17 April 2024

Center modifies Green Credit Program guidelines to emphasize ecosystem restoration.

About Green Credit Programme:

  • 2023: It was launched by India at COP 28, Dubai.
  • It involves creating an inventory of degraded wastelands, which can be utilised for planting by individuals and organisations.
  • Green credits will be awarded to participants undertaking environmentally positive actions.
  • It is a part of is part of the broader ‘LiFE’ campaign (Lifestyle for Environment), and it encourages and rewards voluntary environmentally-positive actions.
  • There are concerns that the Green Credit Programme (GCP) may encourage tree planting for financial gains. 

Green Credit:

  • It includes monetary rewards for engaging in environmentally beneficial activities. 

Latest Guidelines 

  • In April, this year  Environment Ministry had issued guidelines that States must calculate what it would cost to restore a degraded forest landscape.
  • The Ministry has changed the earlier requirement that there be a minimum of 1,100 trees per hectare to qualify as a reforested landscape and left it to States to specify them.
  • Shrubs, herbs, and grasses may be used in some areas for restoring degraded ecosystems based on the suitability of the landscape.

Green Credit Programme (GCP) Clarification

  • The Environment Ministry has clarified that primacy must be given to restoring ecosystems over tree planting only.

Application Process

  • Individuals and companies can apply to the Indian Council of Forestry Research and Education (ICFRE) to pay for forest restoration.

Implementation

  • State forest departments will carry out the actual afforestation.

Green Credit

  • After two years and evaluation by ICFRE, each planted tree may be worth one green credit.

Utilization of Green Credits

  • Organizations can use green credits to comply with forest laws and corporate social responsibility requirements.

Why in news?

Center modifies Green Credit Program guidelines to emphasize ecosystem restoration.