Himachal to explore carbon credit markets to boost revenue
Aiming to benefit from the Indian government’s green credits policy, the Himachal Pradesh government on Tuesday constituted a committee to explore carbon credit markets to boost revenue.
The move seems to be aimed at boosting the state’s revenue which has an enormous debt of over Rs 85,000 crore with the government trying every bit to generate an extra source of income.
The carbon credit committee will function under the Additional Chief Secretary, Forests and it aims to explore various aspects of the carbon market.
Chief Minister Sukhvinder Singh Sukhu said the ten-member Committee will study the existing International and domestic carbon market to develop sector specific study.
“This initiative seeks to enhance the capacity of the state government in identifying, developing and implementing carbon credit projects,” he stated.
In addition, it will try to identify the potential carbon credit projects in collaboration with various government departments. It will also assist in framing a state climate policy and related frameworks for carbon credits.
The committee will also guide other departments in preparing policies to secure carbon credits and come up with procedures for engaging project developers, consultants, buyers, traders etc.
Sukhu said it would also arrange regular interaction with administrators of Indian Carbon Market and other International carbon standards.
“The committee would give recommendations for re-aligning the new and existing schemes and programs to maximize carbon credits benefits for the state.
It will also study the best practices and the successful projects implemented in India across other states to analyze their strategies,” he added.
