The Indian government’s recent expansion of the Carbon Credit Trading Scheme (CCTS) marks a significant step in its climate strategy, now encompassing 490 obligated entities, the environment ministry announced on Thursday.
Previously limited to 282 entities in industries like aluminium and cement, the CCTS now includes petroleum refineries, petrochemicals, textiles, and secondary aluminium, each required to adhere to designated greenhouse gas emission intensity (GEI) targets.
Obligated entities can trade carbon credit certificates, earned by outperforming GEI targets, with others struggling to meet these goals, aligning industrial growth with India’s climate objectives.
(With inputs from agencies.)