Govt may make carbon trading mandatory for certain sectors

New Delhi, Aug 1 (KNN) It is likely Prime Minister Narendra Modi would launch the carbon trading platform on August 15 and make it compulsory for various sectors in an effort to reduce India’s carbon emission.

Carbon markets are trading systems where credits are bought and sold, permitting an entity to emit a certain amount of greenhouse gases.

Centre will notify guidelines making it obligatory for some sectors, as per a report by Mint.

The platform is developed to achieve India’s ambitious climate commitments.

Compliance and voluntary are the two kinds of carbon market and the government’s step would make it a compliance market for some sectors.

PM Modi had announced that India would achieve net-zero emissions by 2070 at the COP26 climate change conference in Glasgow.  (KNN Bureau)