- India’s green energy companies to develop a carbon credit market.
- India aims to reach net zero emissions by 2070.
India’s green energy companies, Adani Green and carbon offsetters, EKI Energy Services, have come together to develop a carbon credit market to help achieve energy transition goals.
India is one of the world’s biggest greenhouse gas emitters and aims to reach net zero emissions by 2070.
Prime Minister Narendra Modi wants India to become an industrial powerhouse while also cutting emissions by 60 million tonnes annually by 2030, highlighting the importance of a robust carbon trading market.
The lower house of parliament passed an Energy Conservation (Amendment) Bill 2022 in August that seeks to establish carbon trading.
Under a carbon trading scheme, government and private entities can earn carbon credits by reducing their greenhouse gas emissions. The same credits can be bought and sold in markets.