Phase IFoundation
Background
Overview
India's domestic climate action strategy, use of market mechanisms for environmental goals, and its implications for industries and international trade are crucial for understanding India's commitment to climate change mitigation.
Carbon Credit Trading Schemes are market-based mechanisms designed to reduce greenhouse gas emissions by assigning a monetary value to carbon. They typically involve a cap-and-trade system where a limit is set on total emissions, and entities can buy or sell permits (carbon credits) to emit, incentivizing emission reductions.