Disentangling India’s new national carbon market By Kamya Choudhary and Rob Macquarie
India’s emissions are the third-largest globally (although much lower in per capita terms), and its government is taking comprehensive action to reach its goal of net zero by 2070. However, rather than defining plans to harness international carbon finance, India’s Energy Conservation (Amendment) Bill focuses on developing a domestic carbon market. There is a logic to this approach, but certain design features pose risks to effective decarbonisation in India.
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