Can India's Carbon Credit Trading Scheme drive climate target success?

IETA estimates that by 2030, the global carbon credit market will be around $300 billion, growing to $1 trn to $1.5 trn by 2050. India is expected to be one of the big sellers

Late last month, on one of those increasingly rare days in New Delhi with clear skies and fresh air, Saurabh Diddi, director of the Bureau of Energy Efficiency (BEE), launched Prakriti 2025. India’s first state-sponsored international carbon markets event served as a platform to showcase the country’s progress in launching a Carbon Credit Trading Scheme (CCTS). 

The seeds for India’s carbon market were sown over four years ago during the Covid-19 pandemic. They germinated in 2022 and have since sprouted green shoots. The CCTS will start in phases between September this year and October 2026. It comprises a compliance regime