Delhi’s green projects will generate income
Delhi Chief Minister Rekha Gupta has recently taken an important decision, under which the Delhi government will now earn revenue from carbon credits through its green projects. This decision was taken in the cabinet meeting held at Delhi Secretariat, where the Environment Department presented the proposal to implement ‘Carbon Credit Monetization Framework’.
CM Rekha Gupta said that this initiative shows the government’s commitment to tackle climate change. Through this framework, the Delhi government will generate additional revenue by selling emission reductions in the international market. This will not only promote environmental protection, but this revenue will also be used in public welfare schemes.
The Environment Department of Delhi Government said that this scheme will cover the initiatives of various departments. Currently, the Delhi government is doing many things like electric buses, large scale plantation, use of solar energy and waste management, which are helpful in reducing carbon emissions.
Under this new policy, pollution reduction will be measured scientifically and registered as ‘carbon credits’. These credits will be sold in the national and international carbon markets, which will generate revenue for the Delhi government.
Revenue generation without government expenditure
According to the Environment Department, the biggest feature of this scheme is its financial model. The Delhi government will select an expert agency, which will ensure which schemes can generate carbon credits. After this, documentation and registration work will be done on international standards.
This process will be based on ‘revenue sharing model’, which means that the government will not have to spend any money on it. A part of the earnings will go to the agency, while the major part will go to the government treasury.
Money will be deposited directly into the state treasury
All earnings under this framework will be directly deposited into the ‘Consolidated Fund of the State’. This amount will be reflected in the financial accounts of Delhi Government and will be used to further improve the development and environment of Delhi.
Comments are closed.