As a part of the government’s strategy to engage the private sector to help achieve net carbon emission zero by 2070, the Union Environment Ministry has prepared a draft Green Credit Programme Implementation Rules 20223.
The programme proposes to create a market based mechanism for providing incentives in the form of Green Credits to individuals, farmer producer organisations, cooperatives, forestry enterprises, sustainable agriculture enterprises, urban and rural local bodies, private sectors, industries and organisations for environment positive actions.
The Ministry has issued a notification in this regard to help the entities in the private sector meet their existing obligations, stemming from other legal frameworks, by taking actions which are able to converge with activities relevant for generating or buying Green Credits.
The programme also envisages to create a mass movement around environment positive actions and realise the vision of “Mission LiFE” through pro-planet people and entities.