India's carbon market set for 2026 launch, BEE director reveals

Saurabh Diddi, director at Bureau of Energy Efficiency, explains India's carbon credit trading scheme, which includes mandatory compliance and voluntary offsets, aiming for a 2026 launch

Saurabh Diddi, director of the Bureau of Energy Efficiency (BEE), the nodal body for designing and implementing India’s carbon markets, is responsible for developing the architecture of India’s carbon credit trading scheme (CCTS), a $50 billion investment opportunity. The scheme, having a mandatory compliance regime and voluntary offset credits, is expected to be operational in 2026. Edited excerpts of an interview with S Dinakar.

 

Are carbon markets part of India’s future? 

They are a significant step for our country. The Energy Conservation Act was amended to develop the CCTS. We notified the CCTS in June 2023, giving us a framework