Context:

• To take ahead the ‘LiFE’  (Lifestyle for Environment’ movement), the Ministry of Environment, Forest and Climate Change has introduced the Green Credit Program (GCP) and the Ecomark Scheme.

What is a Green Credit Programme?

• Green Credit: It refers to a unit of an incentive provided for a specified activity; delivering a positive impact on the environment.
• Aim: Incentivizing Environmental Actions.
• About: It is an innovative market-based mechanism designed to incentivize voluntary environmental actions.
• The ministry had proposed the draft Green Credit Programme Implementation Rules 2023.
  • Rules Identified 8 Sectors: Tree plantation, water, sustainable agriculture, waste management, air pollution reduction, mangrove conservation and restoration, Ecomark and sustainable building and infrastructure.
• Focuses Areas: Water conservation and afforestation. 
• Administration: The Indian Council of Forestry Research and Education (ICFRE) is responsible for program implementation, management, monitoring, and operation.
• Digital Platform: A user-friendly digital platform will streamline the processes for project registration, verification, and issuance of Green Credits. 
  • The Green Credit Registry and trading platform, being developed by ICFRE.
  • Green Credit certificates will be tradable on the green credit platform.

What is Ecomark Scheme?

• Aim: Promoting Eco-Friendly Products.
• About: Ecomark scheme provides accreditation and labelling for household and consumer products that meet specific environmental criteria. 
  • The scheme seeks to prevent misleading information about products.
• Administration: The Central Pollution Control Board administers the Ecomark Scheme in partnership with Bureau of Indian Standards (BIS). 

News Source: Down to Earth