U.K. recognises India's carbon credit scheme under its carbon tax mechanism: official

The U.K. has officially recognized India's Carbon Credit Trading Scheme (CCTS) as a qualifying criterion for carbon price relief under its Carbon Border Adjustment Mechanism (CBAM). This recognition, confirmed by the U.K.'s HM Treasury to India's Bureau of Energy Efficiency, will reduce the carbon tax burden on Indian goods exported to the U.K. by allowing importers to claim relief for carbon prices already borne under the CCTS, thereby avoiding double taxation.