In Hyderabad, the Bureau of Energy Efficiency (BEE) unveiled two crucial recommendations aimed at enhancing India's Carbon Market as part of the nation's climate change strategy. By improving the efficiency of carbon credit trading, these rules hope to assist India in lowering its greenhouse gas emissions.
Regulatory Guidelines for Trading Carbon Credits
- Compliance mechanism details (rules on how it works for carbon credits).
- Accreditation Process for Approved Verifiers of Carbon Credits: Standards for agencies that approve carbon credits.
- Usecase : Mainly to trade carbon credit, but can also maintain transparency in it and account for such corporations who have matching goals.
- Connecting and educating TSREDCO is planning workshops for businesses, simple rules explanations.
- History: Developed as part of the Energy Conservation Act of 2001 to streamline trading mechanisms, establish roles, and decrease GHGs.
- Consistency with National Climate Targets — In line with emission intensity reduction target of 45% by 2030 and 2070 net-zero emissions goal.
Month: Current Affairs - November 13, 2024
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