NEWS – Centre tweaks Green Credit Programme norms; to focus on restoration of ecosystem

HIGHLIGHTS

• Focus on Ecosystem Restoration:
  • Concerns were raised that the programme might promote tree planting solely for financial benefits rather than focusing on ecosystem restoration
  • The Ministry clarified that the GCP should prioritize ecosystem restoration over mere tree planting for green credits.
  • This shift aims to ensure that the programme contributes significantly to ecological rejuvenation.
• State Participation and Land Offerings:
  • Forest departments of 13 States have offered 387 land parcels of degraded forest land, totaling approximately 10,983 hectares, for restoration under the GCP.
  • Individuals and companies can apply to the Indian Council of Forestry Research and Education (ICFRE) to pay for the restoration of these forests, with actual afforestation carried out by State forest departments.
• Green Credits and Utilization:
  • After two years, each tree planted and evaluated by the ICFRE could be worth one ‘green credit.’
  • These credits can be used by financing organizations in two ways: compliance with forest laws or for reporting under environmental, social, and governance norms or corporate social responsibility (CSR) requirements.
• Guidelines and Changes:
  • The Environment Ministry issued updated guidelines on April 12, requiring States to calculate the cost of restoring a degraded forest landscape.
  • The earlier minimum requirement of 1,100 trees per hectare for reforestation has been removed, allowing States to specify suitable criteria, such as shrubs, herbs, and grasses, for ecosystem restoration based on local conditions.