The Indian government is planning to establish the Indian Carbon Market (ICM), a national framework to decarbonize the Indian economy by pricing greenhouse gas (GHG) emissions through trading of carbon credit certificates. The Bureau of Energy Efficiency, Ministry of Power, along with the Ministry of Environment, Forest & Climate Change, is developing a Carbon Credit Trading Scheme for this purpose.
The National Committee on Transmission (NCT) has approved around ten new transmission projects totaling more than Rs 6,600 crore. Notably, two significant projects account for a total of 5,281 crore. The NCT's approval allows these projects to submit bids.
The interim budget presented by Finance Minister Nirmala Sitharaman on February 1 sets a progressive tone for India's pursuit of climate action and sustainable development in 2024-25.
Effective carbon emission reduction techniques play an essential role in mitigating climate change. Regulated carbon markets have emerged as a possible alternative, using a market-based approach to incentivize businesses to minimise their carbon footprints.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.