Why is it in the news?

• The Ministry of Environment, Forest and Climate Change (MoEFCC) issued notifications detailing methodologies for the calculation of Green Credits (GC) based on recommendations from the Indian Council of Forestry Research and Education (ICFRE).

About the Methodologies

 Identification and Utilization of Degraded Land Parcels:

• Forest Departments across all States and Union territories are mandated to identify degraded land parcels under their jurisdiction for the purpose of enhancing green cover.
• Designated land parcels for plantation must be devoid of encumbrances and possess a minimum size of 5 hectares to qualify for the initiative.

Implementation of Tree Plantation Initiatives:

• ICFRE directs the Forest Departments to execute tree plantation activities within a stipulated timeframe of two years on the identified land parcels.
• Each successfully grown tree contributes to the issuance of one Green Credit (GC), with a prerequisite minimum density of 1100 trees per hectare.

About the Green Credit Program (GCP)

• Tree plantation constitutes one among eight designated activities falling under the ambit of the Green Credit Program (GCP).
• The GCP aims to incentivize environmentally positive actions through market-based mechanisms, with GCs serving as units of incentive for activities fostering beneficial environmental impacts.
• In addition to tree plantation, the GCP encompasses a broad spectrum of sectors including Water Conservation, Sustainable Agriculture, Water Management, Air Pollution Reduction, Mangrove Conservation and Restoration, Ecomark label development, and Sustainable Building and Infrastructure.
• The ICFRE, headquartered in Dehradun, is designated as the GCP Administrator, entrusted with the responsibility of overseeing program implementation, management, monitoring, and operation. Recognized as a registered society under the Societies Registration Act, 1860, and acknowledged as an autonomous body by the MoEFCC.