Green Credit Programme (GCP)

Prelims: Current events of national and international importance | Environment & Ecology

Why in News?

The Union Government identifies 4,391 hectares of degraded forest land across multiple states for eco-restoration under the Green Credit Programme.

GCP – It is a first-of-a-kind market-based instrument designed to incentivise individuals, industries and local bodies for their voluntary environmental actions across different sectors.
Launched in – It is a Central Sector Programme launched in 2023.
Stakeholders – Like individuals, communities, private sector industries, and companies.
Aim – To incentivise environmentally positive actions through the issuance of Green Credits, thereby promoting the Lifestyle for Environment (LiFE) Movement.
Notified through – Green Credit Rules, 2023 under the Environment Protection Act 1986.
Objectives
- Increase green cover & restore degraded forest lands.
- Enhance carbon sequestration & promote eco-restoration and afforestation.
- Encourage environment-friendly technologies and reduce carbon footprint through sustainable lifestyle changes.
Nodal Ministry – Ministry of Environment, Forest and Climate Change.
Administrator – Indian Council of Forestry Research and Education (ICFRE), responsible for implementation, management, monitoring, and operation.
8 activities
- Tree plantation;
- Water conservation
- Sustainable agriculture;
- Waste management;
- Air pollution reduction;
- Mangrove conservation and restoration;
- Ecomark (a government scheme to identify environment-friendly products)
- Sustainable building and infrastructure.

Features

Green Credit Portal – A dedicated digital platform has been created for registration, monitoring, and issuance of Credits.
Working Mechanism – Green Credits are issued to participants for ecological restoration; they can be used for compliance or sold to another entity.
Credit Generation – Credits are generated through tree plantation & eco-restoration of degraded forest lands.
Indigenous Species – Afforestation must involve a mixture of indigenous tree species suitable for the local ecological conditions.
Minimum Restoration Requirement – Credits can be claimed only after 5 years of restoration and achieving a minimum canopy density of 40%
This corresponds to moderately dense forest classification.

Land Identification – State Forest Departments identify degraded forest land parcels & verification by the Divisional Nodal Officer (DNO) and the State Nodal Officer (SNO) confirms suitability.
Conditions
- Land should not already be under a plantation.
- Land must not be earmarked for other afforestation schemes (e.g., compensatory afforestation) to avoid double-counting.
Verification Mechanism – A designated agency verifies the restoration activities and submits a report to the Administrator (ICFRE) before issuance of credits.

References