{"id":293087,"date":"2024-04-26T19:36:03","date_gmt":"2024-04-26T14:06:03","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=293087"},"modified":"2024-04-26T19:36:03","modified_gmt":"2024-04-26T14:06:03","slug":"green-credits-significance-challenges","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/green-credits-significance-challenges\/","title":{"rendered":"Green credits-Significance & Challenges"},"content":{"rendered":"

Source<\/strong>-This post on Green credits-Significance & Challenges<\/strong> has been created based on the article \u201cCan green credits benefit India\u2019s forests?\u201d published in \u201cThe Hindu<\/strong>\u201d on 26 April 2024.<\/p>\n

UPSC Syllabus<\/strong>–GS Paper-3<\/strong>– Conservation, Environmental Pollution and Degradation, Environmental Impact Assessment.<\/p>\n

Context<\/strong>-The article presents a critical analysis of Green Credit Programme.This is a is a market-based initiative started by Environment Ministry, where individuals and companies can earn incentives, termed as \u2018green credits,\u2019 for their contributions to environmental and ecological restoration efforts.<\/p>\n

What is the significance of the Green Credit Programme?<\/strong><\/h2>\n

1) Environmental Conservation<\/strong>– Green Credit Programme aims to incentivize sustainable actions and engage various stakeholders, including individuals and corporations, in environmental conservation efforts.<\/p>\n

2) Incentivizes various sectors<\/strong>– This program offers incentives through markets and covers six or seven sectors, like forests and waste management. In policymaking, incentives play a crucial role. Green credits serve as incentives to encourage individuals and companies to participate in these activities.<\/p>\n

What are the concerns regarding the Green Credit Programme?<\/strong><\/h2>\n

1)Bypassing laws<\/strong>– It may be utilized to bypass existing environmental laws, particularly those related to forest conservation.<\/p>\n

2)Ground level challenges<\/strong>-There is a lack of proper understanding of ground level challenges and expertise to address those challenges.<\/p>\n

3) Threat to biodiversity<\/strong>– It may promote monocultures and planting vegetation unsuitable for certain ecosystems. This could adversely impact biodiversity and soil health.<\/p>\n

4) Measurement Problems<\/strong>-There are challenges of measuring biodiversity impact accurately. For ex- How does one measure the impact on biodiversity when they are 200 meters apart?<\/p>\n

5) Lack of Fungibility<\/strong>– Fungibility is the ability to exchange one unit of a commodity for another.However,this is lacking in green credits due to the diverse nature of environmental credits like biodiversity and water conservation. This poses a challenge in equating different types of credits on the same platform. For ex- How does one equate a credit of one unit of water conservation with one unit of ecosystem restoration on the same platform?<\/p>\n

6) Clashes with Forest Conservation Act <\/strong>-The program’s rules imply that earning green credits can negatively influence mandatory compliances, such as forest clearances. For ex-it may bypass the whole forest clearance process just to help the industries get green credits.<\/p>\n

Question for practice<\/strong><\/p>\n

Critically evaluate the significance of the Green Credit Programme?<\/p>\n","protected":false},"excerpt":{"rendered":"

Source-This post on Green credits-Significance & Challenges has been created based on the article \u201cCan green credits benefit India\u2019s forests?\u201d published in \u201cThe Hindu\u201d on 26 April 2024. UPSC Syllabus–GS Paper-3– Conservation, Environmental Pollution and Degradation, Environmental Impact Assessment. Context-The article presents a critical analysis of Green Credit Programme.This is a is a market-based initiative… Continue reading Green credits-Significance & Challenges<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[59,216,10498],"class_list":["post-293087","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-environment","tag-gs-paper-3","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/293087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=293087"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/293087\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=293087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=293087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=293087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}