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Concerns flagged over green credit rules, SC intervenes
The Morning Standard
|March 10, 2025
THE Supreme Court has taken up environmentalists' concerns over inadequacies in the Green Credit Rules (GCR) of 2023 and sought the response of the Ministry of Environment, Forest, and Climate Change (MoEF&CC).
The shortcomings could adversely affect India's forest conservation efforts and compromise the rights of Indigenous people, green groups have argued. The MoEFCC has requested additional time to provide a detailed reply.
The GCR 2023, notified in February 2024, pertains to the granting of green credits for the plantation of tree species by corporations or entities. The rules are designed to incentivize environmentally positive actions through a market-based mechanism, allowing for the generation of green credits. These credits will be tradable in the market alongside carbon emissions.
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