Indian Carbon Market – An Overview

Abstract

India’s journey towards net zero by 2070 will need several policy initiatives including developing a domestic carbon market and a mechanism for emission trading. This paper gives an overview of the legislative changes undertaken by the Government in the last couple of years, as well as other draft guidelines on carbon pricing and capturing systems. There are several models available in the world, like those present in the USA or EU, and Indian policy draws heavily from the global experience. The paper also addresses several key questions that are raised in various forums and critically examines the arguments put forward in the public domain.