Pay 2% of capital investment for green clearance: Environment Ministry to Corporates
The environment ministry has firmed up guidelines that will require every corporate seeking green clearance to set aside up to 2% of its capital investment for Corporate Environment Responsibility (CER).
The guidelines make it mandatory for companies to set aside funds for CER over and above what is required for executing the environment management plan in a projectaffected area.
While brownfield (expansion) projects would be required to earmark 0.125% to 1% of additional capital investment for CER purposes, the slab for greenfield projects ranges from 0.25% to 2% of the capital investment.
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