Q. Consider the following statements:
1.The Green Credit Programme aims to incentivize environmental restoration through a market-based mechanism, where individuals and companies earn credits for contributing to environmental and ecological restoration.
2.Unlike green credits, various projects in a carbon market cannot be measured by their carbon savings.
Which of the statement(s) given above is/are correct?
Explanation –
Statement 1 is correct. The Green Credit Programme (GCP) is designed as a market-based mechanism to incentivize voluntary environmental actions, including environmental and ecological restoration. Individuals, companies, and various organizations can earn credits for activities such as afforestation, water conservation, and other environment-positive actions.
Statement 2 is incorrect. Projects in a carbon market are specifically measured by their carbon savings. Carbon credits are issued based on the amount of carbon dioxide or other greenhouse gases that are reduced, avoided, or sequestered by these projects. However, However, in green credits, measuring the impact of one unit of water conservation versus one unit of ecosystem restoration is complex and lacks a common metric.
Source: The Hindu
