Government Greenlights 12 Projects for Green Credit Program

  • 20 May 2024

In May 2024, the Centre sanctioned 12 greening projects under the Green Credit Program (GCP), fostering voluntary environmental actions across sectors.

Key Points

  • Voluntary Environmental Actions: The Green Credit Program incentivizes voluntary actions like afforestation and waste management across sectors.
  • Government Support: Officials revealed that estimates for 24 plans submitted by state forest departments are currently under consideration.
  • PSU Involvement: PSUs are encouraged to lead in registering for the program, especially in mining-heavy states.
  • Third-Party Verification: Guidelines for third-party verification of projects under the scheme are being developed.
  • GCP Overview: Established in October 2023, the GCP aims for voluntary participation in environmental-positive actions.
  • Green Credits Trading: Participants earn green credits for investments in initiatives, tradable on a platform.
  • Monitoring Mechanism: ICFRE is developing a mechanism for third-party verification and monitoring of greening projects.