A carbon market in India was introduced through Energy Conservation (Amendment) Bill, 2022 to follow United Nations Climate Change Conference (COP26) as an attempt reduce fossil fuel consumption through use of non-fossil sources such as green hydrogen, green ammonia, biomass, and bioethanol as energy and feedstock.
The Indian National Carbon Trading Scheme is a carbon emission trading scheme[1] being developed by the Bureau of Energy Efficiency in India,[2] which may start as a voluntary market in 2023.[3] It is expected to start trading existing Renewable Energy Certificates (REC) and Energy Savings Certificates (ESC) by 2025[4] and for these to become Carbon Credit Certificates by 2026.[2] It was legislated in 2022.[5] It has been suggested that mandatory carbon allowances could be included in future[6] so that it would become a carbon market similar to the Chinese and EU ETS.[5] The director of the bureau says that it will become the world's largest carbon market by 2030.[7]
^"Disentangling the features of India's new national carbon market". Grantham Research Institute on climate change and the environment. Retrieved 2023-03-26.
^ abSingh, Ruchira; Ghosh, Agamoni (2023-02-17). "India works on market stabilization fund details for upcoming carbon market". www.spglobal.com. Retrieved 2023-03-19.
^Saurabh (2023-02-27). "India Issues List Of Technologies Eligible Under Impending Carbon Market". CleanTechnica. Retrieved 2023-03-19.
^Singh, Ruchira (2023-03-17). "India may announce details of national carbon market scheme in June: official". www.spglobal.com. Retrieved 2023-03-19.
^ abSirur, Simrin (2023-02-21). "Green think tank CEEW suggests EU & Korea-like 'emissions trade' for India's carbon market launch". ThePrint. Retrieved 2023-03-19.
^"The EU's carbon tax: What India must do". Financialexpress. Retrieved 2023-03-19.
^Ramesh, M. (2023-03-08). "India will be the biggest carbon market in the world by 2030, says BEE". www.thehindubusinessline.com. Retrieved 2023-03-19.
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