India’s Carbon Market Launch by 2026
India is set to launch its Carbon Credit Trading Scheme (CCTS) by 2026 to reduce harmful emissions, aligning with global climate goals. Announced in June 2023, the CCTS allows industries exceeding emission reduction targets to sell credits, while those failing to meet targets must buy them. This initiative supports India’s commitment to cut emissions intensity by 45% by 2030 under the Paris Agreement and reach net-zero by 2070. The Bureau of Energy Efficiency (BEE) oversees the scheme, which faces challenges like setting strong targets and ensuring compliance. India’s carbon market aims to mirror similar global efforts, such as the EU’s CBAM and China’s program.
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