Which of the following statements about 'Green Credit Initiative' is/are correct?

1. It is a response to the challenge of climate change.

2. It promotes plantations on wasteland and river catchment areas.

3. It is a scheme of the Government of India to replace the kerosene oil with solar power used by the rural poor.

Select the correct answer using the code given below. 

The correct answer is 1 and 2 only.

Key PointsGreen Credit Initiative

• The Green Credit Initiative is designed as a response to the challenge of climate change, aiming to encourage sustainable environmental practices by offering incentives for preserving and expanding green cover.
  • It supports actions that mitigate climate change effects, making it a crucial step towards a sustainable future. Hence, statement 1 is correct.
• This initiative promotes plantations on wasteland and river catchment areas, which are vital for maintaining ecological balance, preventing soil erosion, enhancing water retention, and increasing biodiversity.
  • By focusing on these areas, the initiative seeks to rehabilitate degraded lands and improve water quality and availability. Hence, statement 2 is correct.
• However, the claim that it is a scheme of the Government of India to replace kerosene oil with solar power used by the rural poor does not directly relate to the Green Credit Initiative.
  • This statement seems to confuse the initiative with other government programs aimed at promoting renewable energy sources. Hence, statement 3 is incorrect.

Additional Information

• The concept of green credits revolves around the idea of assigning a monetary value to environmental conservation efforts, such as tree planting or restoration of natural habitats.
  • These credits can be traded, bought, or sold, providing a financial mechanism to support and incentivize conservation activities.
• Initiatives like the Green Credit Initiative are essential in the context of global climate change mitigation efforts, as they offer tangible incentives for environmental conservation, supporting global targets such as those outlined in the Paris Agreement.
  • Such initiatives contribute to the broader goals of reducing greenhouse gas emissions and promoting sustainable development.
• Wastelands and river catchment areas play a crucial role in the ecosystem.
  • Rehabilitating these areas not only contributes to biodiversity conservation but also supports livelihoods by providing ecosystem services such as clean water and fertile soil for agriculture.