The Ministry of Environment, Forest and Climate Change (MoEF&CC) on February 26, 2024, notified the methodology for calculating the green credit in respect of any activity undertaken under the Green Credit Rules, 2023. The following methodology, for calculation of green credit in respect of tree plantation are as stated: The Forest Department of every State and Union territory shall identify degraded land parcels, including open forest and scrubland, wasteland and catchment areas, under their administrative control and management, which shall be made available for tree plantation to promote activities for increasing the green cover across the country for generation of Green Credit. The land parcel identified for plantation must be free from all encumbrances and must have the size of five hectares or above. Any person or entity desirous of undertaking tree plantation for the purposes of generation of Green Credit may apply to the Administrator. On receipt of the application, the Administrator shall identify any land and assign the same to the applicant and require him to submit a proposal for undertaking tree plantation for generation of Green Credit in lieu thereof. The Administrator shall prepare and issue a demand note to the applicant which shall include the cost of tree plantation and administrative expenses, if any, to be paid to the Administrator within a period specified in the demand note. The Green Credit shall be calculated at the rate of one Green Credit per tree growing through the tree plantation on such land parcel, subject to a minimum density of 1100 trees per hectare, based on the local Silvi-climatic and soil conditions, on the certification of completion of tree plantation provided by the Forest Department concerned.
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