India set to announce compliance details of carbon trading market in June

As world’s third-largest emitter India is on track to reach net zero by 2070 and set to launch a robust and credible domestic carbon market next month, experts say high-integrity carbon credits can attract more investment in India into technology and nature-based climate solutions.

India, China, Brazil and some other developing countries have been strongly advocating at every UN climate summit for continuation of carbon credits, which allow companies to compensate for their greenhouse gas emissions, under the 2015 Paris Agreement — an ambitious global action plan to fight climate change.

So what are carbon markets? They are trading systems in which carbon credits are sold and bought.