• UGI USER
  • Apr 27, 2024
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“ANALYZING INDIA’S GREEN CREDIT PROGRAMME”

Syllabus:

  • GS-3- Environment and ecology , Regeneration of wasteland and related policies

Focus :

  • The Environment Ministry introduced the Green Credit Programme in October 2023.
  • It is a market-based mechanism allowing individuals and companies to claim incentives, termed ‘green credits,’ for contributions to environmental and ecological restoration.
 Source- GoI

Understanding the Green Credit Programme

  • Some experts view the programme as an incentive mechanism to promote green and sustainable actions by involving various stakeholders.
  • Some highlight the importance of ground-level awareness and expertise in implementing the programme effectively.
About Green credit Program:

  • An project spearheaded by Prime Minister Narendra Modi aims to create Green Credits by planting trees on damaged wasteland.
  • At a high-level gathering at the ongoing COP28 climate conference in Dubai, United Arab Emirates, he emphasized that the Green Credits Initiative is superior to the carbon credits’ commercial nature.
  • The GCP is a novel market-based mechanism that encourages voluntary environmental actions by a range of stakeholders, including individuals, communities, private sector industries, and companies.
  • An inter-ministerial Steering Committee supports the GCP’s governance framework.
  • The Indian Council of Forestry Research and Education (ICFRE) is the GCP Administrator, in charge of program implementation, management, oversight, and operation.

Carbon Credit :

  • Carbon offsets, or carbon credits, are permits that let the owner emit a specific quantity of greenhouse gases, such as carbon dioxide.
  • One ton of carbon dioxide or its equivalent in other greenhouse gases may be emitted with one credit.

Scope and Sectors Covered

  • Green Credit Programme encompasses six or seven sectors, including forest and waste management.
  • Implementation quality and awareness of ground-level challenges are critical for the programme’s success.

Incentivizing Restoration of Degraded Forest Land

  • The programme aims to incentivize the restoration of degraded forest land, addressing natural and man-made factors contributing to forest degradation.
  • Concerns arise regarding the potential negative consequences of monoculture plantations and unsuitable vegetation promotion.

Challenges in Forest Regeneration

  • The focus on planting trees for earning credits overlooks the complexity of forest ecosystems and biodiversity conservation.
  • Regenerating forests requires protection from disturbances rather than major interventions, emphasizing the need for a nuanced approach.

Measurement and Fungibility

  • The challenge of measuring and equating different environmental outcomes, such as biodiversity conservation and carbon sequestration, poses a significant hurdle.
  • Fungibility is lacking in the Green Credit Programme, complicating the trading system and evaluation of credits.

Impact on Mandatory Compliances and Environmental Laws

  • The use of green credits in mandatory compliances, such as forest clearances, raises concerns about bypassing established processes and compromising environmental laws.
  • Potential clashes with existing environmental legislation, particularly the Forest Conservation Act, underscore the need for a nuanced and principled approach.

Balancing Economic Growth and Environmental Protection

  • The Green Credit Programme raises questions about balancing economic growth and environmental protection.
  • Simplifying processes for industry ease of doing business should not compromise environmental integrity or bypass regulatory safeguards.

Strengthening Environmental Governance

  • Addressing the lack of clarity and definitions in the programme, particularly regarding forests and degraded land, is crucial.
  • Strengthening environmental laws and ensuring adherence to principles of environmental governance are essential for effective implementation.

Conclusion: Towards Sustainable Environmental Management

  • The Green Credit Programme presents opportunities for incentivizing environmental restoration and sustainability.
  • However, challenges such as measurement complexities, fungibility issues, and potential conflicts with existing laws necessitate careful consideration and refinement.

Source:The Hindu

Mains Practice Question :

GS-3

Discuss the objectives, scope, and challenges of India’s Green Credit Programme. Evaluate its potential impact on environmental restoration and regulatory compliance, with a focus on the balance between economic growth and environmental protection.” (250 words)