Draft carbon credits trading scheme out

New Delhi: The power ministry on Monday issued a draft carbon credits trading scheme as part of its process to establish a carbon credit market in India and sought views from stakeholders on the proposals by April 14. The Energy Conservation Amendment Bill, passed by Parliament in December, included provisions for a market for carbon credit.

The draft scheme mainly consists of the structure of the proposed Indian Carbon Market, for both voluntary trading and compliance.

As per the draft, a governing board, comprising secretaries and joint secretaries of the environment, power, renewable energy, steel, coal and oil ministries, among others, would be formed to administer the proposed Indian Carbon Market.


The proposed board would also recommend procedures and rules for the market, according to the draft. It would frame the methodologies for voluntary carbon credit trading and guidelines regarding sale of carbon credit certificates to overseas buyers.