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Introduction: India, one of the world’s largest emitters of greenhouse gases (GHGs), is making significant progress towards its ambitious net-zero carbon emissions goal of 2046. In August 2022, Indian Oil Corporation announced plans to invest ‘2 lakh crore in phases, including the purchase of carbon credits, as part of this endeavour. In a similar vein, NTPC, an Indian energy sector behemoth, sought carbon trading experts to assist with its sustainability efforts. These developments reflect a growing interest in carbon credits and trading mechanisms as valuable tools for addressing the challenges of carbon footprint reduction. This article looks at how India’s own carbon trading market can help it achieve its green goals. Rising Interest in Sustainability: As temperatures rise and GHG emissions rise, sustainability has become a top priority for regulators, investors, community stakeholders, and consumers. Energy, steel, cement, and transportation industries, in particular, are grappling with emission reduction targets. Many people lack the technical knowledge and resources needed to significantly reduce their carbon footprints. Carbon credits allow these businesses to meet their emission targets by offsetting emissions or purchasing credits generated by other entities. Despite criticism, carbon trading is critical in closing the sustainability gap in such industries. With rising temperatures and rising GHG emissions, sustainability has become a top priority for regulators, investors, community stakeholders, and consumers. Industries, particularly those in the energy, steel, cement, and transportation sectors, are grappling with emission reduction targets. Many people lack the technical expertise and resources needed to significantly reduce their carbon footprints. Carbon credits allow these companies to meet their emission targets by either offsetting emissions or purchasing credits generated by other entities. Despite criticism, carbon trading is critical in bridging the sustainability gap for such industries. Carbon Credit Market Development: The concept of carbon credits emerged in the 1990s, gaining international recognition through the Kyoto Protocol, which aimed to reduce global GHG emissions. The carbon credit market has grown significantly over time. According to MarketsandMarkets research, it is expected to be worth $414.8 billion in 2023 and $1.6 trillion by 2028. India has been an active participant in the global carbon market, accounting for 21% of all projects registered under the Clean Development Mechanism (CDM). Over $10 billion in foreign direct investment has been channelled through the CDM, making the country a significant contributor to voluntary carbon markets. India’s Carbon Market Journey: To fulfill its commitment to reduce emissions intensity by 45% by 2030, India is taking proactive measures to establish an independent carbon market registry outside the UNFCCC CDM framework. By 2025, India plans to launch its own Emissions Trading System, leveraging the existing Perform, Achieve, and […]

BIS Certification Process BIS certification is a mandatory requirement for certain products that are sold in India, as per the Bureau of Indian Standards (BIS). The BIS certification process includes testing and evaluation of the products, followed by certification. The certification helps in assuring the quality and safety of the products for the consumers. Finding

Bureau of Indian Standards The Bureau of Indian Standards (BIS) is a national standards body in India that develops and sets quality standards for various products and services. The agency was established in 1986 and is operated under the Ministry of Consumer Affairs, Food & Public Distribution. The BIS is responsible for creating and enforcing

Introduction: Malnutrition continues to be a pressing global issue, affecting millions of people, especially in developing nations. However, innovative solutions such as fortified rice kernel machines are making significant strides in combating malnutrition and improving the health of vulnerable populations. In this blog post, we will delve into the transformative power of fortified rice kernel

Introduction Nutrition plays a pivotal role in human development, and yet, many regions around the world still struggle with widespread malnutrition. In particular, deficiencies in essential vitamins and minerals pose a significant threat to the health and well-being of communities, especially in developing countries. However, there is a powerful solution at hand: fortified rice kernels.

Introduction: When it comes to entering the Indian market, obtaining the Bureau of Indian Standards (BIS) certification is essential for many products. The BIS certification ensures that products meet the Indian standards of quality, safety, and reliability. However, the certification process can be complex and time-consuming, requiring extensive knowledge and expertise. This is where a

Introduction: In today’s competitive market, it is crucial for businesses to prioritize product quality and safety to gain a competitive edge. One way to achieve this is through obtaining BIS (Bureau of Indian Standards) certification. BIS certification ensures that products meet the defined quality and safety standards, which not only safeguards consumers but also enhances

In a significant address at the 44th ISO COPOLCO Plenary in New Delhi, Union Minister Piyush Goyal, responsible for Consumer Affairs, Food and Public Distribution, Commerce and Industry, and Textiles, emphasized the critical role of quality in meeting the demands of today’s customers. He stated that quality is of utmost importance to consumers and can

According to a top official from the Director General Foreign Trade (DGFT), more pharmaceutical products can be included under mandatory quality improvement regulations for export from India if the Ministry of Health advises accordingly. The official emphasized that all pharmaceutical products must meet global standards and quality requirements. This statement follows a recent notification from