Shimla, Jan 28,
The Himachal Pradesh Government has formed a Carbon Credit Committee under the chairmanship of the Additional Chief Secretary of Forests, tasked with exploring various aspects of the carbon market. The committee aims to generate additional revenue for the state while promoting sustainable environmental practices.
The ten-member committee will conduct a comprehensive study of both international and domestic carbon markets. The goal is to develop a sector-specific approach for Himachal Pradesh, strengthening the state’s capacity to identify, develop, and implement carbon credit projects. Chief Minister Thakur Sukhvinder Singh Sukhu emphasized that the initiative would also assist in framing a state climate policy, creating necessary frameworks for carbon credits, and guiding various government departments in securing credits.
The committee’s objectives include identifying potential carbon credit projects in collaboration with government departments and formulating procedures for engaging project developers, consultants, traders, and buyers. Furthermore, it will facilitate interactions with administrators of India’s carbon market and international carbon standards.
In line with the state’s broader environmental strategy, the committee will provide recommendations on re-aligning existing and new schemes to maximize carbon credit benefits. Additionally, it will study successful projects implemented across other states in India, analyzing strategies and best practices.
This move is expected to enhance the state’s sustainable development efforts, while also contributing to the fight against climate change.
What are Carbon Credits?
A carbon credit is a certificate or permit that represents the right to emit one ton of carbon dioxide or other greenhouse gases. These credits are part of international carbon trading systems that allow organizations or countries to offset their carbon emissions by investing in projects that reduce or capture greenhouse gases. Carbon credits are seen as an important tool in the global effort to combat climate change by incentivizing industries to reduce their carbon footprints.
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