Govt prepares framework for Indian carbon market under CCTS, sets up panel

The government has formulated the framework for the Indian carbon market under the Carbon Credit Trading Scheme (CCTS), and its institutional structure will comprise a National Steering Committee co-chaired by the secretaries of the Ministry of Power and the Ministry of Environment, Forest and Climate Change, Minister of State for Power Shripad Yesso Naik said in a written reply in Parliament.

What will the institutional structure of the carbon market look like? 

The framework provides for a National Steering Committee co-chaired by senior officials from the power and environment ministries to oversee the functioning of the Indian carbon market.

Which sectors have moved to the compliance mechanism under CCTS? 

Multiple sectors including aluminium, cement, petrochemicals, refineries and textiles have transitioned to the compliance mechanism under CCTS.