Shimla: Having set out a target to turn Himachal Pradesh into a green state of India, the state government on Tuesday announced setting up a Carbon Credit Committee tasked with exploring aspects of the carbon market.
The committee, headed by the Additional Chief Secretary (Forests), will also suggest steps to generate additional revenue for the state while promoting sustainable environmental practices.
The 10-member committee will conduct a comprehensive study of both international and domestic carbon markets.
The goal is to develop a sector-specific approach for Himachal Pradesh, strengthening the state’s capacity to identify, develop, and implement carbon credit projects.
Chief Minister Sukhwinder Singh Sukhu confirming the move said the initiative would also assist in framing a state climate policy, creating necessary frameworks for carbon credits, and guiding various government departments in securing credits.
The committee’s objectives include identifying potential carbon credit projects in collaboration with government departments and formulating procedures for engaging project developers, consultants, traders, and buyers. It will facilitate interactions with administrators of India’s carbon market and international carbon standards.
In line with the state’s broader environmental strategy, the committee will provide recommendations on re-aligning existing and new schemes to maximize carbon credit benefits. Additionally, it will study successful projects implemented across other states in India, analysing strategies and best practices, said the Chief Minister.
This move is expected to enhance the state’s sustainable development efforts, while also contributing to the fight against climate change.
Himachal Pradesh has been facing a severe resource crunch and challenges posed by the rising debt burden making it impossible for the government to meet the larger development needs of people, and pay salaries and pensions to the staff.
Some of the initiatives to mobilise additional resources have not yet relieved the state of funds’ demand with treasuries having been instructed not to disburse the grants without approval of the state’s Finance department.
Earlier, the state government’s move to impose water cess to generate Rs 3,000 crore per annum as additional revenue was jeopardised when the High Court quashed the legislation.