Union Minister of Environment, Forests and Climate Change Prakash Javadekar on Sunday emphasised the need to promote green credit, instead of carbon credit, so that polluters do not get away with paying for carbon emissions.
Addressing the Second Meeting of the Business Dialogue for COP-21 under the U.N. Framework Convention for Climate Change here, he said: “The world must incentivise green growth activities as ‘Green Credit’ instead of Carbon Credit Mechanism, which provides a way out for the Emitter to get rid of the blame of pollution by paying for the emissions.”
The Minister stressed India’s proposed debate on lifestyle issues — where developed countries were urged to check unsustainable consumption practices — ‘climate justice’— focussing on the environmental rights of the people in developing and underdeveloped nations — and the green credit mechanism, ahead of the Modi-Obama meet on Monday, where climate change is likely to be a key subject of discussion.
The demand-supply mismatch and low ambition for emission reduction expressed by developed countries led to the slowdown of the well-established CDM market, the Minister said.
