Gujarat accounts for nearly 29 per cent of the total carbon credit income in India, Modi said, adding, "The state government further intends to launch 'Green Credit Movement' on the lines of carbon credit. Union government, has given an in-principal approval to this proposal".
Elaborating more on the concept of Green Credit Movement, he explained that any company or group, which sets up its project in Gujarat, will have to protect a part or piece of land having green trees. "Companies should start creating tree banks from now to avail the incentives under Green Credit Movement", he stated in a statement.
As part of the new initiative, a comprehensive policy regarding climate change would be formulated. Gujarat government intends to promote the usage of green technology and investment in the same segment. "A revolving fund for the promotion of research and use of green technology will be set up", Modi said.
Other responsibility of the proposed department also include guidence for increasing carbon credit revenues, prepare various curriculums pertaining to climate change for educational purposes and regulation and financial management of new technologies for controlling emission of green house gases.
The department will also undertake research activity to assess future impact of climate change on 1,600 kms coastline in the state.
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