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Background:
To address specific climate change concerns, India has developed a comprehensive and balanced
set of actions for its Nationally Determined Contributions (NDCs) for the period of 2021-2030 to
address mitigation as well as adaptation taking into consideration the need for economic growth
and development. Emphasis is laid on promoting sustainable lifestyles and clean economic
development. India is encouraging sustainable living as a concept and a practice at the heart of its
climate change efforts. Operationalizing ‘green credit’ programme in the country would not only
supplement India’s ambitious climate change actions but also help in improving environmental
protection by deploying an incentive mechanism to drive action and stimulate greater public
engagement on climate change and environmental issues. This would help meet India’s
overarching climate change, environmental and sustainable development objectives by resulting in
improvements in resource efficiency, promoting clean energy solutions, tackling local
environmental challenges and stimulating investments in sustainable infrastructure and
technologies.
Objective:
The ‘green credits’ programme will be designed to help mitigate climate change, build adaptive
capacity and improve the overall state of the environment by increasing energy and resource use
efficiency, encouraging environmental conservation among other measures.
Tasks of the assignment:
In this context, the selected agency is expected to carry out following tasks within 3 Work
packages as mentioned in the TOR:
Task 1: Review global and domestic examples/initiatives/case studies on green credit instruments
and incentive structures and formulate a clear articulation of what is meant by green credits.
Task 2: Identify Government of India policies, programmes and schemes on climate change and
environment which can support operationalizing the ‘Green Credit’ programme; Identify initiatives
by the private sector, and other stakeholders and highlight potential of linking such initiatives to the
‘green credit’ program.
Task 3: Identify information and enforcement requirements as well as other requirements; Develop
MRV mechanism and identify quantifiable and verifiable indicators to assess effectiveness of
initiatives in terms of scale, effectiveness and sustainability to develop a score-card to rank
activities for acquiring green credits.
Task 4: Propose and design realistic and feasible package of instruments- monetary and non-
monetary that incentivize green actions by different categories of stakeholders; Propose design
elements and procedures for operationalizing the programme which should include setting
baselines, MRV, measuring impacts and mechanism for ensuring sustainability; Develop a
stakeholder engagement strategy and plan; Provide estimates of the potential quantity of ‘green
credits’ from different activities.
Task 5: Propose institutional and governance arrangement to manage Green Credit programme;
Prepare draft guidelines for participating in ‘green credits’ programme including eligibility criteria,
application procedure, MRV mechanism and issuance of green credits and sustainability plan;
Define the roll out plan/roadmap
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