Carbon Credits
India is a significant player in the global carbon credit market, contributing approximately 20% of the world's carbon credits. As of June 2023, the country had 860 registered projects and 1,451 projects under various stages of consideration with leading carbon crediting programs like Verra and Gold Standard.
Carbon credits are tradable permits that represent the right to emit one metric ton of carbon dioxide CO2 or equivalent greenhouse gases (GHGs). They are used as part of cap-and-trade programs and voluntary carbon markets to reduce global emissions and combat climate change.
Global Insights
Here is a percentage growth graph comparing Corporate Investments and Market Dynamics in carbon credits from 2020 to 2024.
Corporate Investments
Market Dynamics
Corporate Investments
Companies like TotalEnergies are investing heavily in carbon credits to offset emissions. TotalEnergies, for instance, has committed $725 million globally to offsets, including a $100 million investment to preserve U.S. forests, aiming to meet net-zero emissions goals by 2050.
Market Dynamics
The voluntary carbon markets are rapidly growing, with an increasing number of new market entrants needing data to make informed decisions. Platforms like Sylvera's Carbon Credit Analytics help participants analyze and compare the quality of retirements across various registries and standards.
India's Carbon Credit Landscape
India is actively participating in carbon credit trading schemes, leveraging both compliance and voluntary markets to contribute to global emissions reduction efforts.
Carbon Credit Trading Scheme (CCTS)
The revised CCTS allows non-obligated entities, including companies and individuals, to participate in the tradable carbon credits market. This inclusion aims to efficiently price emissions and expand the voluntary carbon market.
Voluntary Market Expansion
The revised CCTS allows non-obligated entities, including companies and individuals, to participate in the tradable carbon credits market. This inclusion aims to efficiently price emissions and expand the voluntary carbon market.
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