Q. Consider the following statements:
1.The Global Green Credit (GGC) initiative aims to be a global program promoting environmental action through a standardized credit system.
2.The Green Credit Programme (GCP) is a national program focused on specific environmental activities within India and operates with pre-defined methodologies and a domestic market.
Select the correct statements using the codes given below:
Explanation –
Statements 1 and 2 are correct. The GGC Initiative is conceptualized as a mechanism to incentivize voluntary pro-planet actions, as an effective response to the challenge of climate change. It envisions the issue of Green Credits for plantations on waste/degraded lands and river catchment areas, to rejuvenate and revive natural eco-systems.
It aims to facilitate global cooperation and partnership through exchange of knowledge, experiences and best practices in planning, implementation and monitoring of environment positive actions through programs/mechanisms like Green Credits.
The India’s Green Credits Programme is a market-based mechanism to incentivize voluntary environmental actions across diverse sectors, by various stakeholders like individuals, communities, private sector industries, and companies. It was first announced in the Union Budget 2023-24 and launched by the Environment Ministry in October 2023.
Source: Forum IAS
