Power ministry notifies scheme for trade in carbon credits

The power ministry on Friday notified the Carbon Credit Trading Scheme, 2023, to develop the domestic carbon market as the country aims at decarbonising the economy and has committed to cut emissions by 45% from the 2005 levels by 2030.

As per the scheme, the Centre will constitute a 20-22-member national steering committee (NSC), headed by the power and the environment secretaries, to govern and have a direct oversight of the carbon market.