Unlocking Carbon Credit Potential: Offset Mechanism under CCTS Introduction India’s bold climate goals have opened the door to a strong carbon trading system. At its core, the Offset Mechanism under CCTS drives voluntary GHG mitigation. Introduced in December 2023 through a CCTS amendment, it enables non-obligated entities to generate and trade carbon credits. Moreover, the…
Introduction The Ministry of Power has released the Carbon Credit Trading Scheme, 2023, to regulate the trading of carbon credit certificates. This scheme introduces several key components to ensure a structured and transparent carbon market in India. Key Components 1. National Steering Committee The National Steering Committee is responsible for:– Recommending the formulation and finalization…