PM promotes LiFE movement, urges planet-friendly practices globally.
New Delhi: Prime Minister Narendra Modi, in his address at the COP28 summit in Dubai on Friday, unveiled the Green Credit Initiative, a program aimed at creating carbon sinks through the active participation of people. Speaking at the high-level segment for heads of states and governments during the UN climate conference, PM Modi emphasized that Indias contribution to global carbon emissions is less than 4 percent. He also highlighted that India is among the few countries on track to achieve its Nationally Determined Contributions targets, which are set to limit the increase in global warming to 1.5 degrees Celsius. This information was reported by the Press Trust of India, as mentioned on abplive.com.
The prime minister has been at the forefront of the Lifestyle for Environment (LiFE) movement, advocating for the adoption of eco-friendly living practices and urging countries to move away from consumerist behaviors. PM Modi referred to a study by the International Energy Agency, which suggests that such an approach could potentially reduce carbon emissions by 2 billion tonnes.
The Green Credit Initiative, introduced by the Ministry of Environment and Climate Change on October 13, 2023, aims to incentivize voluntary environmental actions across various sectors and promote a sustainable lifestyle known as LiFE. These actions include tree plantation, water management, sustainable agriculture, waste management, air pollution reduction, mangrove conservation and restoration, ecomark label development, and sustainable building and infrastructure. The generated green credits can be traded on a domestic market platform. Initially, the program will prioritize water conservation and afforestation, as reported by PTI.
Under the governments Green Credit Program (GCP), environmental actions that lead to the reduction or removal of carbon emissions will also receive carbon credits through the Carbon Credit Trading Scheme. The Green Credit Program, independent of the Carbon Credit Trading Scheme, allows activities to earn carbon credits in addition to green credits. The government had previously established Indias Carbon Credit Trading Scheme under the Energy Conservation Act in June, with the aim of developing a domestic carbon market, according to the notification.
To obtain green credits, individuals or entities must submit an application for registration through a government-established website to the Indian Council of Forestry Research and Education (ICFRE). The administrator will then request a designated agency to verify the proposed environmental activity. After verification, the agency will submit a report to ICFRE, leading to the issuance of a green credit certificate to the applicant.
Source: abplive.com
