Carbon credit market: Why power ministry is best suited to run this project

The power ministry feels it is in the best position to decide what types of products should be introduced in the carbon credit market

Rather unusually in the central government, there has been public differences between the environment ministry and the power ministry on who should regulate the carbon credit mechanism. Last week, in Parliament, several MPs raised the issue, some obviously at the behest of one or the other ministry. 

It is a market with potentially extraordinary regulatory powers which can straddle several sectors. A Bureau of Energy Efficiency report (under the power ministry) notes of the $100 billion turnover for such a market globally by 2030, India will account for at least a quarter. 

An Invest India report (government agency to promote