Global CCS Report on India's Carbon Credit Trading Scheme 2023

WhatsApp
Facebook
Twitter
LinkedIn
Email
A carbon credit scheme, also known as a carbon offset scheme or carbon trading scheme, is a market-based approach designed to reduce greenhouse gas emissions. It operates on the principle that organizations or individuals can offset their own emissions by investing in projects or activities that reduce or remove an equivalent amount of greenhouse gases from the atmosphere. Here's how a typical carbon credit scheme works: Measurement of Emissions: Organizations or entities calculate their greenhouse gas emissions, often referred to as their carbon footprint. This includes emissions from various activities such as energy consumption, transportation, and industrial processes. Emission Reduction Projects: Projects or activities that reduce or remove greenhouse gas emissions are initiated. These projects can include reforestation, renewable energy installations, energy efficiency improvements, or capturing emissions from industrial processes (carbon capture and storage or utilization, known as CCUS). Carbon Credits: For every metric ton of greenhouse gas emissions reduced or removed by these projects, a carbon credit, also known as a carbon offset, is generated. Each carbon credit represents one ton of CO2 equivalent emissions avoided or removed. Trading and Certification: These carbon credits are then traded on carbon markets. Organizations or individuals can purchase these credits to offset their own emissions. The credits are typically certified by recognized standards organizations to ensure their quality and legitimacy. Offsetting Emissions: By purchasing and retiring these carbon credits, organizations or individuals effectively offset their own emissions. This means they are effectively "neutralizing" their carbon footprint because the emissions they are responsible for are balanced by the emissions reductions achieved through the projects. Compliance and Reporting: In some cases, carbon credit schemes are regulated by governments, and organizations may be required to participate to meet emissions reduction targets or regulatory requirements. They must report their emissions and offsets to demonstrate compliance. Carbon credit schemes aim to incentivize emissions reductions in a cost-effective manner, promote sustainable practices, and encourage investment in environmentally beneficial projects. They are often used by companies, governments, and individuals to demonstrate their commitment to addressing climate change and achieving carbon neutrality. It's important to note that the effectiveness and integrity of carbon credit schemes can vary widely depending on the specific program, standards, and transparency of the projects involved. Therefore, choosing reputable and verified carbon credits is essential for ensuring meaningful emissions reductions.
Download Report from GLOBAL CCS INSTITUTE

The report  written by Errol Pinto, a Senior Consultant in Policy and Commercial fields, discussing India’s carbon credit trading scheme and the Indian government’s CCUS (Carbon Capture Utilization and Storage) report. It contains key messages and insights into India’s efforts to address climate change and reduce carbon emissions. Here is a summary of the document:

1. Introduction

  • The document discusses recent developments related to India’s efforts to combat climate change, focusing on the establishment of a domestic carbon credit trading scheme and the release of a CCUS policy framework report.

2. India’s Carbon Credits Trading Scheme

  • The Energy Conservation Bill was amended to enable the creation of a domestic carbon credit trading scheme.
  • Carbon credits will be generated by public and private entities in India to reduce emissions.
  • These credits will be tradable within the country, creating a compliance market.
  • The Ministry of Power is leading the development of this scheme with an initial focus on energy efficiency.

3. NITI Aayog’s CCUS Report

  • NITI Aayog, a central government think tank, released a detailed CCUS policy framework report.
  • The report recommends carbon credits as a key policy mechanism for emissions reduction.
  • It suggests creating a public sector corporation to promote and finance CCUS projects in India.
  • The report also discusses costs, financing mechanisms, and international pricing.

4. CCUS in the Current Indian Context

  • The timing of the Energy Conservation Bill amendment and the CCUS Report release coincided with India’s updated Nationally Determined Contributions (NDCs) at COP 27.
  • India’s NDCs include ambitious goals for emissions reduction and renewable energy capacity.
  • The document highlights the importance of CCUS in achieving these goals, especially in hard-to-abate sectors.

5. Conclusions

  • The establishment of a national carbon credit trading scheme is significant for domestic emissions reduction efforts.
  • CCUS is not included in the scheme currently but may be considered in the future.
  • India’s government is taking steps to understand and promote CCUS technologies, including the establishment of National Centres of Excellence in Carbon Capture and Utilization.
  • The document underscores the importance of CCUS in India’s transition to a net-zero economy.

6. References

  • The document provides a list of references and sources used in compiling the information.

The document primarily highlights India’s efforts to combat climate change, including the development of a carbon credit trading scheme and the recognition of CCUS as a crucial tool in achieving its climate goals. It emphasizes the government’s commitment to addressing carbon emissions and promoting sustainable practices.

In reference to the report provided above, a “carbon credit trading scheme” would be a specific program or system established to facilitate the trading of carbon credits within the context of carbon offsetting and emissions reduction. The report appears to discuss the implementation of such a scheme as part of a broader strategy to combat climate change and reduce greenhouse gas emissions.

Here’s how a carbon credit trading scheme might work within the context of the report:

  1. Emissions Reduction Initiatives: The report may highlight various emissions reduction initiatives, such as renewable energy projects, reforestation efforts, or energy efficiency programs, that have been implemented or supported by a government, organization, or community.

  2. Carbon Credit Generation: As a result of these emissions reduction initiatives, carbon credits are generated. These credits represent the emissions reductions achieved by these initiatives and are typically measured in metric tons of CO2 equivalent.

  3. Trading Platform: The carbon credit trading scheme would involve the establishment of a trading platform or marketplace where these carbon credits can be bought and sold. This platform may be operated by a government agency, an independent organization, or through public-private partnerships.

  4. Market Participants: Various stakeholders, including companies, industries, governments, and individuals, can participate in the carbon credit trading scheme. Those entities seeking to offset their own emissions or demonstrate their commitment to sustainability can purchase carbon credits from the marketplace.

  5. Transparency and Standards: To ensure the integrity of the scheme, there are often established standards and guidelines for the certification and verification of carbon credits. These standards help guarantee that the emissions reductions claimed by the credits are real and additional to business-as-usual practices.

  6. Report and Compliance: Participants in the trading scheme may be required to report their emissions and offsets, especially if there are regulatory requirements or compliance obligations associated with the scheme. This reporting helps track progress toward emissions reduction goals.

  7. Funding and Investment: The revenue generated from the sale of carbon credits can be reinvested in further emissions reduction initiatives or used to support sustainability and climate resilience efforts. This funding mechanism can help catalyze additional projects.

Overall, the carbon credit trading scheme described in the report would serve as a market-based mechanism to incentivize emissions reductions and promote sustainable practices while allowing organizations and individuals to offset their own carbon emissions. Such schemes are a key component of global efforts to address climate change and transition to a low-carbon economy

Related Searches
WhatsApp
Facebook
Twitter
LinkedIn
Email
Recent Posts

You may also like

VayomTech Stack Monitoring Kit VTSS1 Stack Sampler VSS1 Enviro Tech nology Stack Monitoring Kit VSS1 VayomTech Stack monitoring System VSS1 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10
VayomTech Stack Monitoring Kit VTSS1 Stack Sampler VSS1 Enviro Tech nology Stack Monitoring Kit VSS1 VayomTech Stack monitoring System VSS1 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10
24x7 Customer Service!!
Call Us : 9205804380
GST : 07AAVFV0275F1ZT
MSME : UDYAM-DL-08-0032477

Message Us

Find Us

  • Address
  • O-662/A, Amar Market, Jaitpur, Delhi 110044
  • Email: sales@vayomtech.com
  • Call: 9205804380
Pages
Recent Posts
VayomTech Stack Monitoring Kit VTSS1 Stack Sampler VSS1 Enviro Tech nology Stack Monitoring Kit VSS1 VayomTech Stack monitoring System VSS1 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10
ISO 9001 Certified
VayomTech Stack Monitoring Kit VTSS1 Stack Sampler VSS1 Enviro Tech nology Stack Monitoring Kit VSS1 VayomTech Stack monitoring System VSS1 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10
VayomTech Stack Monitoring Kit VTSS1 Stack Sampler VSS1 Enviro Tech nology Stack Monitoring Kit VSS1 VayomTech Stack monitoring System VSS1 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Fine Dust Sampler VTM 650 Enviro Tech nology Fine Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Respirable Dust Sampler VTM 650 Enviro Tech nology Respirable Particulate Sampler APM 650 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10 VayomTech Combo Dust Sampler VTM 650 PM2.5 PM10 Enviro Tech nology Combo Particulate Sampler APM 650 PM2.5 PM10
NABL CALBRATION SERVICES
Scroll to Top