​Indian Carbon Market: Fulfilling Obligations of Paris Agreement

On 13th August, 2024, Centre for Science and Environment (CSE) released a report, titled ‘The Indian Carbon Market: Pathways towards an Effective Mechanism’, offering a roadmap to ensure the market’s effectiveness in curbing emissions.

  • It is to be noted that while presenting the Union Budget 2024-25, Finance Minister announced the transition of hard-to-abate sectors from the existing Perform, Achieve and Trade (PAT) scheme to the upcoming Indian Carbon Market (ICM).
  • This transition aims to accelerate emissions reduction and meet India's Nationally Determined Contribution targets by 2030 under the 2015 Paris Agreement.

Carbon Markets: An Introduction

  • Carbon markets are market-based mechanisms ....

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