Govt finalises scheme for Indian carbon market, steering committee to be formed
To boost the trading of carbon credits in the country, the Ministry of Power has notified the Carbon Credit Market Scheme. This development comes within days of the government releasing a draft document for establishing a green credits market in India.
Through a gazette notification last week, the ministry approved the formation of India’s first domestic regulated carbon market. The scheme also necessitates the formation of a National Steering Committee, which will govern and have direct oversight over the functioning of the Indian carbon market.