Consider the following statements regarding Green Credit Program (GCP). Green Credit Program (GCP) is a market-based mechanismdesigned to incentivize voluntary environmental actions across various sectors. To obtain Green Credits, individuals and entities must register their activities through the central governmentandrsquo;s dedicated app/website. Ministry of Finance is responsible for the implementation, management, monitoring, and operation of Green Credit Program.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?

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Consider the following statements regarding Green Credit Program (GCP).

Green Credit Program (GCP) is a market-based mechanismdesigned to incentivize voluntary environmental actions across various sectors.
To obtain Green Credits, individuals and entities must register their activities through the central government’s dedicated app/website.
Ministry of Finance is responsible for the implementation, management, monitoring, and operation of Green Credit Program.

How many of the above statements is/are correct?

a)
Only one
b)
Only two
c)
All three
d)
None

Correct answer is option 'B'. Can you explain this answer?

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Most Upvoted Answer

Consider the following statements regarding Green Credit Program (GCP)...

Statement 3 is incorrect.

Green Credit Program (GCP) notified on 13th October, 2023 is an innovative market-based mechanism designed to incentivize voluntary environmental actions across diverse sectors, by various stakeholders like individuals, communities, private sector industries, and companies. The GCP’s governance framework is supported by an inter-ministerial Steering Committee and The Indian Council of Forestry Research and Education (ICFRE) serves as the GCP Administrator, responsible for program implementation, management, monitoring, and operation.
In its initial phase, the GCP focuses on two key activities: water conservation and afforestation.
The Green Credit Registry and trading platform, being developed by ICFRE along with experts, would facilitate the registration and thereafter, the buying and selling of Green Credits.

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Consider the following statements regarding Green Credit Program (GCP)...

And meet specific eligibility criteria. Green Credits can be earned by reducing greenhouse gas emissions, conserving natural resources, implementing renewable energy projects, and adopting sustainable practices. Green Credits can be traded in the market, allowing individuals and entities to buy and sell credits based on their environmental performance. The revenue generated from the sale of Green Credits can be used to fund further environmental projects and initiatives. Green Credit Program aims to promote sustainable development and mitigate climate change by encouraging individuals and entities to take proactive measures to reduce their environmental impact.

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Consider the following statements regarding Green Credit Program (GCP). Green Credit Program (GCP) is a market-based mechanismdesigned to incentivize voluntary environmental actions across various sectors. To obtain Green Credits, individuals and entities must register their activities through the central government’s dedicated app/website. Ministry of Finance is responsible for the implementation, management, monitoring, and operation of Green Credit Program.How many of the above statements is/are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?

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