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CERC proposes framework for carbon credit certificate trading

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The Central Electricity Regulatory Commission (CERC) has issued the draft CERC (Terms and Conditions for Purchase and Sale of Carbon Credit Certificates) Regulations, 2024.  The regulations aim to establish a structured framework for trading carbon credit certificates (CCCs) on power exchanges, applicable to both obligated and non-obligated entities. Under the draft, the Grid Controller of India will serve as the registry for CCC exchanges, while the Bureau of Energy Efficiency (BEE) will manage CCCs under…

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India’s Emerging Carbon Market: Balancing Economic Growth with Environmental Sustainability

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With the global focus increasingly shifting towards carbon pricing as a tool to combat climate change, India’s efforts to design and implement an effective carbon market could have profound implications not only for its domestic climate goals but also for the global carbon trading landscape. Carbon pricing is globally recognized as a cost-effective mechanism to internalize the environmental costs of greenhouse gas (GHG) emissions. In its essence, carbon pricing assigns a monetary value to GHG…