Carbon Credit Trading Scheme 2023

It marks a significant step in India’s commitment to reducing Greenhouse Gas emissions and transitioning towards a low-carbon economy.
Key Features:
1. It aims to create a domestic carbon market to incentivize emission reductions across various sectors.
2. Ministry of Power oversees the regulatory aspects of the scheme
3. Bureau of Energy Efficiency is designated as the administrator responsible for implementing the scheme
4. National Steering Committee for Indian Carbon Market is established to provide strategic direction and oversight
5. The scheme envisages a centralized trading platform for CCCs, facilitating transparent and efficient transactions between buyers and sellers.
6. It encourages industries to adopt cleaner technologies and practices, contributing to India’s climate goals.
7. It positions India alongside other nations with established carbon markets, enhancing its credibility in international climate negotiations.