Will the Green Credit Programme Incentivize Positive Environmental Actions?
The Government of India has launched the Green Credit Programme (GCP)—a market-based voluntary programme—to enhance energy and resource-use efficiency, foster conservation of resources, mitigate climate change, and strengthen adaptive capacity. The programme intends to incentivize the adoption of e...
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| Format: | Article |
| Language: | English |
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Nandan Nawn
2024-01-01
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| Series: | Ecology, Economy and Society – The INSEE Journal |
| Online Access: | https://ecoinsee.org/journal/ojs/index.php/ees/article/view/1251 |
| _version_ | 1797346930181799936 |
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| author | Surender Kumar |
| author_facet | Surender Kumar |
| author_sort | Surender Kumar |
| collection | DOAJ |
| description |
The Government of India has launched the Green Credit Programme (GCP)—a market-based voluntary programme—to enhance energy and resource-use efficiency, foster conservation of resources, mitigate climate change, and strengthen adaptive capacity. The programme intends to incentivize the adoption of environmentally sustainable technologies and processes through fiscal and financial nudges and effect behavioural changes. The efficacy of a policy programme depends on its design and implementation, though, in theory, such programmes are designed to be cost-effective, environmentally favourable, as well as economically inclusive. The success of a tradable programme should be judged on the basis of four parameters: design of the programme, minimization of transaction costs, market volatility, and leakage and environmental degradation. The GCP administrators have yet to issue an effective design and implementation framework for the programme.
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| first_indexed | 2024-03-08T11:40:15Z |
| format | Article |
| id | doaj.art-549ceab4075d4435b7390b548978c5c4 |
| institution | Directory Open Access Journal |
| issn | 2581-6152 2581-6101 |
| language | English |
| last_indexed | 2024-03-08T11:40:15Z |
| publishDate | 2024-01-01 |
| publisher | Nandan Nawn |
| record_format | Article |
| series | Ecology, Economy and Society – The INSEE Journal |
| spelling | doaj.art-549ceab4075d4435b7390b548978c5c42024-01-25T06:09:17ZengNandan NawnEcology, Economy and Society – The INSEE Journal2581-61522581-61012024-01-017110.37773/ees.v7i1.1251Will the Green Credit Programme Incentivize Positive Environmental Actions?Surender Kumar0Department of Economics, Delhi School of Economics, University of Delhi, Delhi-110007 The Government of India has launched the Green Credit Programme (GCP)—a market-based voluntary programme—to enhance energy and resource-use efficiency, foster conservation of resources, mitigate climate change, and strengthen adaptive capacity. The programme intends to incentivize the adoption of environmentally sustainable technologies and processes through fiscal and financial nudges and effect behavioural changes. The efficacy of a policy programme depends on its design and implementation, though, in theory, such programmes are designed to be cost-effective, environmentally favourable, as well as economically inclusive. The success of a tradable programme should be judged on the basis of four parameters: design of the programme, minimization of transaction costs, market volatility, and leakage and environmental degradation. The GCP administrators have yet to issue an effective design and implementation framework for the programme. https://ecoinsee.org/journal/ojs/index.php/ees/article/view/1251 |
| spellingShingle | Surender Kumar Will the Green Credit Programme Incentivize Positive Environmental Actions? Ecology, Economy and Society – The INSEE Journal |
| title | Will the Green Credit Programme Incentivize Positive Environmental Actions? |
| title_full | Will the Green Credit Programme Incentivize Positive Environmental Actions? |
| title_fullStr | Will the Green Credit Programme Incentivize Positive Environmental Actions? |
| title_full_unstemmed | Will the Green Credit Programme Incentivize Positive Environmental Actions? |
| title_short | Will the Green Credit Programme Incentivize Positive Environmental Actions? |
| title_sort | will the green credit programme incentivize positive environmental actions |
| url | https://ecoinsee.org/journal/ojs/index.php/ees/article/view/1251 |
| work_keys_str_mv | AT surenderkumar willthegreencreditprogrammeincentivizepositiveenvironmentalactions |