Share on LinkedInShare on LinkedIn

ARTICLE · 05 JULY 2023

India's proposed Green Credit Programme

Shardul Amarchand Mangaldas & Co
Shardul Amarchand Mangaldas & Co
Contributor
Shardul Amarchand Mangaldas & Co

Shardul Amarchand Mangaldas & Co

Founded on a century of legal achievements, Shardul Amarchand Mangaldas & Co (SAM & Co) was born...

View firm profile
Explore more from Shardul Amarchand Mangaldas & Co

The Ministry of Environment, Forest and Climate Change has notified the Draft Green Credit Programme Implementation Rules, 2023 (hereinafter referred to as "Draft Rules") on 26th June...

IndiaEnvironment
Nawneet Vibhaw
Nawneet Vibhaw
Prannoy Joe Sebastian
Prannoy Joe Sebastian
Author LinkedIn connections

The Ministry of Environment, Forest and Climate Change has notified the Draft Green Credit Programme Implementation Rules, 2023 (hereinafter referred to as "Draft Rules") on 26th June, 2023. The proposed Green Credit Programme is a national level program in pursuance of Government of India's mission titled 'LiFE – Lifestyle for Environment' which seeks to combat climate change, enhance environment actions to propagate a healthy and sustainable way of living based on traditions and values of conservation and moderation, and for sustainable and environment-friendly development. The Draft Rules have been circulated after almost seven months of the Energy Conservation (Amendment) Act, 2022, which introduced the enabling provisions for implementing a carbon credit trading scheme in the country.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

An Overview Of Extended Producer Responsibility For Plastic Waste Management

India generates an estimated 25,000 to 30,000 tonnes of plastic waste every day, of which a substantial share, approximately 10,556 tonnes daily, remains uncollected and enters landfills or the open environment. To address this, the Ministry of Environment, Forest and Climate Change (“MoEFCC”) has notified a national Extended Producer Responsibility (“EPR”) framework for plastic packaging under the Plastic Waste Management Rules, 2016, as amended from time to time.
IndiaEnvironment
S.S. Rana & Co.
S.S. Rana & Co.
Article

Greenwashing In India: Laws, Regulations And Compliance Risks For Businesses

Environmental, Social and Governance (“ESG”) considerations have increasingly become an important component of corporate decision-making, investor assessments and brand positioning in India. As businesses seek to demonstrate their environmental credentials, terms such as “green”, “eco-friendly”, “sustainable”, “carbon neutral” and “environmentally friendly” are increasingly used in advertising, product packaging, corporate communications and sustainability disclosures.
IndiaEnvironment
King, Stubb & Kasiva
King, Stubb & Kasiva
Article

Prior Clearance Endures, Amnesty Narrows: The Supreme Court’s Verdict In Vanashakti v. Union Of India

The article summarises recent Supreme Court judgment that provides important clarity on the law governing post facto environmental clearances by reaffirming the primacy of prior environmental clearance and delineating the narrow circumstances in which statutory regularisation may be permissible. It also draws a clear distinction between delegated legislation and executive action, limiting the scope for future administrative regularisation.
IndiaEnvironment
Shardul Amarchand Mangaldas & Co
Shardul Amarchand Mangaldas & Co
Article

Supreme Court Stays Bombay High Court Order Releasing Thane Land From “Private Forest” Acquisition: Implications For Forest Land Classification, TDR And Development Rights

In a significant interim order impacting forest land disputes, urban development, and Transferable Development Rights (TDR) in Maharashtra, the Supreme Court has stayed the operation of the Bombay High Court’s judgment directing the release of approximately 193 acres of land at Manpada, Thane from acquisition under the Maharashtra Private Forests (Acquisition) Act, 1975.
IndiaEnvironment
King, Stubb & Kasiva
King, Stubb & Kasiva
Article

The IBC Amendment Act, 2026: Reshaping Real Estate Insolvency

The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (‘Amendment Act’), which amends the Insolvency and Bankruptcy Code, 2016 (‘Code’), received Presidential assent on April 6, 2026. Most amendments took effect on May 26, 2026. However, three significant mechanisms the accelerated admission deadline, creditor-initiated resolution, and group insolvency have been enacted but have not yet come into force and will take effect only upon the issuance of a commencement notification by the Central Government under the applicable provisions of the Code.
IndiaInsolvency/Bankruptcy/Re-Structuring
Shardul Amarchand Mangaldas & Co
Shardul Amarchand Mangaldas & Co
Article

No GST On Assignment Of Industrial Leasehold Rights: Bombay High Court Grants Relief To Industrial Lessees Holding MIDC Plots

In Aerocom Cushions Private Limited v. Assistant Commissioner (Anti-Evasion), CGST & CX, Nagpur-1, the Nagpur Bench of the Bombay High Court quashed a Show Cause Notice demanding Goods and Services Tax (“GST”) on the assignment of leasehold rights in an industrial plot allotted by the Maharashtra Industrial Development Corporation (“MIDC”). The Court held that such an assignment constitutes a transfer of benefits arising out of immovable property and does not amount to a “supply of service” under the Central Goods and Services Tax Act, 2017 (“CGST Act”).
IndiaTax
Shardul Amarchand Mangaldas & Co
Shardul Amarchand Mangaldas & Co
Article

From Beneficiary To Promoter: The Bombay High Court On Housing Society Liability Under RERA

The Real Estate (Regulation and Development) Act, 2016 (“RERA”) was enacted to protect homebuyers and promote transparency and accountability in the real estate sector. A key feature of the Act is the definition of “Promoter” under Section 2(zk), as it determines the persons or entities that bear statutory obligations and liabilities towards homebuyers.
IndiaReal Estate and Construction
Shardul Amarchand Mangaldas & Co
Shardul Amarchand Mangaldas & Co