India’s carbon credit trading scheme & the Indian Government’s CCUS report
The Global CCS Institute’s latest thought leadership report, which evaluates the role of CCUS in supporting India’s climate ambitions, highlights the authorisation of India’s carbon credits trading scheme, and assesses the release of the Indian government’s detailed report on CCUS. In 2022, India’s central government passed an amendment to the Energy Conservation Bill into law, marking a significant step for the set-up of a carbon trading system in India. The NITI Aayog, an Indian central governmental think tank, also released a policy framework paper in 2022 on CCUS that acknowledged the role of CCUS in decarbonisation and the development of a low-carbon economy. These developments, together with the government’s announcement to establish two National Centres of Excellence in Carbon Capture and Utilization, demonstrates India’s intention to fill in the blanks on the components needed for viable domestic emissions reduction pathways.