Carbon Trading in India: Challenges and Imperatives
Carbon trading is a market-based mechanism aimed at reducing greenhouse gas emissions. Countries or companies are given a certain allowance of emissions, and they can trade these allowances in a market. Those who emit less can sell their extra allowances to those who need more.
Legal Framework for Carbon Trading
Challenges
- Regulatory Framework: India's carbon market is still in its infancy, lacking comprehensive regulations to guide its development. For instance, the Carbon Credit Trading Scheme, 2023, recently notified, still requires detailed procedures for its implementation.
- Market Development: India's carbon market is not ....
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