Concept :
- The Government of India launched the Green Credit program as part of its broader “Lifestyle for Environment” (LiFE) mission.
- It’s a market-based instrument designed to incentivize individuals, industries, and local bodies for undertaking voluntary environmental actions across various sectors.
- Key Features:
- Unit of Incentive: A “Green Credit” serves as a single unit of credit awarded for undertaking specific environmentally friendly activities.
- Activities Covered: The program encompasses a range of actions that contribute to environmental sustainability, including:
- Tree Plantation: Promoting increased green cover and carbon sequestration.
- Water Management: Encouraging water conservation and efficient use practices.
- Sustainable Agriculture: Supporting eco-friendly agricultural practices that minimize environmental impact.
- Waste Management: Promoting effective waste management systems to reduce pollution.
- Air Pollution Reduction: Incentivizing initiatives to improve air quality.
- Earning Green Credits: Participants register their environmental activities through a dedicated website. Verification by designated agencies ensures the validity of actions before Green Credits are awarded.
- Potential Benefits:
- Individuals: May be able to use earned Green Credits for discounts on eco-friendly products or services.
- Industries: Can potentially offset environmental liabilities or gain market recognition for their sustainability efforts.
- Local Bodies: May receive support for implementing green initiatives within their jurisdictions.