How does the Green Credit Programme extend beyond carbon management to promote a more sustainable environment in India? What are the various concerns about its implementation?

→ Investments in carbon capture, storage & sequester technologies. e.g. Green Hydrogen. → RBI becoming part of NGFS system of green finance. → Sovereign green bonds (20,000 crore investments in Oct-Dec, 2023). → Business CSR for climate resilience technology.

Sustainable environment

→ Renewable energy generation with DISCOMs green credit swaps. → Reduction of GHG emissions (3rd largest) → less fiscal burden on govt. → Green agriculture:- e.g. PM KUSUM.

Concerns in Implementation

1. Monitoring lapses in Green credit diversions.
2. less economic solutions, but require community participation e.g. Amrit Darohar, Rooftop Solar energy
3. Sectoral imbalances:- More focus on solar, wind; less on other alternatives such as Biofuel etc.