Why in the News?

The Union Ministry of Environment, Forests and Climate Change on October 13, 2023, notified the ‘green credit’ programme, a first-of-a-kind market-based instrument designed to incentivise individuals, industries and local bodies for their voluntary environmental actions across diverse sectors.

About Green Credit Programme (GCP):

• Green Credit Program (GCP ) is an innovative market-based mechanism designed to incentivize voluntary environmental actions across diverse sectors, by various stakeholders like individuals, communities, private sector industries, and companies.
• The GCP's governance framework is supported by an inter-ministerial Steering Committee and The Indian Council of Forestry Research and Education (ICFRE) serves as the GCP Administrator, responsible for program implementation, management, monitoring, and operation.
• In its initial phase, the GCP focuses on two key activities: water conservation and afforestation.
• A user-friendly digital platform will streamline the processes for registration of projects, verification, and issuance of Green Credits.
• The Green Credit Registry and trading platform, being developed by ICFRE along with experts, would facilitate the registration and thereafter, the buying and selling of Green Credits.
• To obtain Green Credits, individuals and entities must register their activities through the central government's dedicated app/website www.moefcc-gcp.in.
• The Administrator will verify the activity through a designated agency, with self-verification for small projects.
• Once verification is complete, the Administrator will grant a Green Credit certificate which will be tradable on the Green Credit platform.

What is the Ecomark Scheme?

• The Ecomark Scheme provides accreditation and labelling for household and consumer products that meet specific environmental criteria while maintaining quality standards as per Indian norms.
• Products accredited under the Ecomark Scheme will adhere to specific environmental criteria, ensuring minimal environmental impact.
• It will build consumer awareness of environmental issues and encourage eco-conscious choices.
• It will also motivate manufacturers to shift towards environmentally friendly production. The scheme seeks to ensure accurate labelling and prevent misleading information about products.
• The Central Pollution Control Board administers the Ecomark Scheme in partnership with the Bureau of Indian Standards (BIS), which is the national body for standards and certification.

Both initiatives mark significant steps in promoting sustainable living, and environmental conservation, and, through individual and collective choice, embody eco-friendly practices in India. They align with global sustainability goals and reflect the government's commitment to conservation and protection of the environment.