Cabinet nod for carbon credit policy to monetise Delhi's green projects, Pg4

Key Highlights:

• Delhi Cabinet approved the Carbon Credit Monetisation Framework to generate revenue from carbon offsets.
• The policy will allow the Delhi government to sell carbon credits from its green initiatives in national and international markets.
• Revenue will be deposited into the Consolidated Fund and used for public welfare schemes.
• The policy covers initiatives like electric buses, plantation drives, solar energy promotion, and waste management.

Detailed Insights:

• The Carbon Credit Monetisation Framework aims to scientifically measure emission reductions and convert them into carbon credits.
• This move incentivizes environmental conservation and provides an additional revenue stream for the Delhi government.
• The framework aligns with Delhi's commitment to combating climate change and promoting sustainable development.
• The policy supports ongoing green initiatives that contribute to lowering greenhouse gas emissions.

Key Concepts Involved:

• Carbon Credits: Permits that represent the removal of one tonne of carbon dioxide from the atmosphere.
• Carbon Offset: A reduction in emissions of carbon dioxide or other greenhouse gases made to compensate for emissions made elsewhere.
• Consolidated Fund: A government account where all revenues received by the government are deposited.