Government Greenlights 12 Projects for Green Credit Program

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.