Green Credit Rules, 2023.

These Rules are framed in exercise of the powers conferred by section 3, section 6 and section 25 of the Environment (Protection) Act, 1986 (29 of 1986). The Green Credit Programme implemented by these Rules aim to incentivize environmental positive actions through market-based mechanism and generate green credit, which shall be tradable on domestic market platform. Rule 4 describes the Green Credit Programme and specifies the measures that any person or entity may take for the purposes of protection, preservation, or conservation of the environment. Rule 5 and 6 provides for the methodology and procedure for calculating, evaluation and verification of green credit. Rule 7 appoints the Administrator which shall be responsible for the effective implementation of the Green Credit Programme. Rule 10 provides for establishment and maintenance of a Green Credit Registry for the registration and issuance of each Green Credit. Rule 11 requires the Administrator to establish trading platform for trading of green credit.