PM Modi launches initiative focusing on generating green credits

Prime Minister Narendra Modi on Friday launched an initiative focusing on generating Green Credits through plantation on degraded wastelandDuring a highlevel event at the ongoing climate talks or COP28 Modi highlighted that the Green Credits Initiative surpasses the commercial nature of carbon creditsCarbon credits driven by a commercial mindset have limited scope and lack associated responsibility We need to move away from a destructive mindset that prioritises personal benefit the prime minister saidThe Green Credits Initiative operates on the premise that environmental conservation is intertwined with personal growth he saidThis initiative involves creating an inventory of degraded wastelands which can be utilised for planting by individuals and organisations Participants undertaking environmentally positive actions will receive tradable green creditsThe entire process from registration to plantation verification and issuance of green credits will be digitisedThe Green Credit Initiative has been conceptualized as a mechanism to incentivize voluntary proplanet actions as an effective response to the challenge of climate change It envisions the issue of Green Credits for plantations on wastedegraded lands and river catchment areas to rejuvenate and revive natural ecosystems the Ministry of External Affairs said in a statementThe prime minister also announced the launch of a global portal to collect ideas knowledge and experiences related to tree planting and environmental conservationThis platform aims to influence global policies practices and the demand for green creditsIt will facilitate global collaboration cooperation and partnership through exchange of knowledge experiences and best practices in planning implementation and monitoring of environment positive actions through programmesmechanisms like Green Credits the ministry saidThe Green Credits Initiative mirrors the Green Credit Programme launched domestically in October It is a marketbased mechanism rewarding voluntary environmental actions in various sectors by individuals communities and the private sectorThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever