Srinagar | Reporter: Police Darpan
Jammu and Kashmir is preparing to unlock a new source of sustainable revenue by introducing a comprehensive Carbon Credit Framework aimed at monetising its rich ecological resources through green projects and global carbon markets. The initiative was reviewed during a high-level meeting chaired by Chief Secretary Atal Dulloo in Srinagar.
The proposed framework has been jointly prepared by the Centre for Innovation and Transformation in Governance (CITaG) and the Finance Department. It focuses on four key pillars—carbon markets, a green cess, convergence of existing environmental schemes, and the creation of a dedicated J&K Green Fund. The policy aims to generate revenue while promoting climate-friendly development across the Union Territory.
Chief Secretary Dulloo directed officials to prepare a detailed policy document supported by a Standard Operating Procedure (SOP) to ensure effective implementation. He also called for training programmes for government departments on carbon accounting, data standards, and project monitoring.
Officials highlighted the significant carbon credit potential in agriculture, hydropower, forestry, rooftop solar installations under PM Surya Ghar Yojana, and the growing adoption of electric vehicles in J&K. Despite considerable investments in environmentally sustainable activities, the Union Territory has not yet earned revenue from global carbon markets.
The framework proposes integrating carbon screening into schemes such as CAMPA, MGNREGS, and the Holistic Agriculture Development Programme (HADP). A revenue-sharing model has also been suggested, under which 35 percent of net carbon proceeds would go directly to primary growers or community project owners, while funds would also support district-level climate initiatives and sustainability projects.
The government is also considering a Green Tourism Contribution and a 180-day implementation roadmap, including pilot projects in Jammu and Srinagar Municipal Corporations, agriculture, and forestry sectors. The initiative is expected to strengthen climate resilience, attract green investments, and create long-term economic opportunities for Jammu and Kashmir.
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