Why in News?
The Environment Ministry has revised rules under the Green Credit Programme (GCP), mandating that tree plantation credits will be awarded only after 5 years, based on 40% canopy density and survival rate, replacing the earlier benchmark of 1,100 trees/hectare.
Description:
| Feature | Green Credit (GC) | Carbon Credit (CC) |
| Governing Law | Environment (Protection) Act, 1986 | Energy Conservation Act, 2001 |
| Nodal Ministry | MoEF&CC | Ministry of Power / Bureau of Energy Efficiency |
| Beneficiaries | Individuals, communities, industries | Primarily industries & corporations |
| Objective | Encourage eco-actions (afforestation, water conservation, sustainable farming, waste mgmt.) | Reduce GHG emissions by setting emission limits |
| Market Mechanism | Traded on domestic platform | Traded on national & international markets |
| Climate Co-benefits | May qualify for carbon credits (indirectly reduces emissions) | Cannot be converted into green credits |
| Scope | Broader: covers multiple environmental aspects | Narrow: specifically targets carbon emissions |
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