'UN carbon programmes may help India take a fifth of $1 trn global market'

Some market participants are impatient, I think. They have got other recognised independent standards which they can use in the interim, said DIRK FORRISTER, president and chief executive of the IETA

At COP29 in Baku last year, the International Emissions Trading Association (IETA), a global body working on pricing and trading greenhouse gas reductions, pushed to operationalise Article 6, the United Nations’ (UN’s) carbon-credit mechanism. Meanwhile, India is working to launch a Carbon Credit Trading Scheme (CCTS) by October 2026, which is being sped up to alleviate the impact of the European Union's (EU’s) cross-border carbon tax (CBAM) on India’s exports to the EU from next year. In an interview with S Dinakar in New Delhi on the sidelines of the International Conference on Carbon Markets, the government’s first global carbon