India, Jan. 27 -- In June, last year, the Union government launched the Indian Carbon Market (ICM) framework to enable the trading of carbon credits which was aimed at reducing greenhouse gas (GHG) emissions and facilitate achievement of India's Nationally Determined Contribution (NDCs).

The framework, known as Carbon Credit Trading Scheme (CCTS), was officially notified through a vide notification S.O. 2825(E) dated June 2023 and amended notification S.O. 5369(E) dated December 2023.

CCTS so far A list of 10 sectors was approved for the Offset Mechanism under the CCTS under an office memorandum by the Bureau of Energy Efficiency dated 10 September 2024. Out of these, six sectors belong to Phase 1, for which 12 methodologies have been ...