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Trading carbon
Business Standard
|October 01, 2025
A well-functioning market can enable India’s green transition
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Ahead of the 30th Conference of Parties (COP) next month in Belém, Brazil, Indiais set to operationalise its Carbon Credit Trading Scheme (CCTS) by the end of October and join the United Nations-supervised voluntary carbon market from January, marking a turning pointin climate governance.
Despite its lower historical emission, India’s policies are among the most ambitious, especially its commitment of 500 gigawatt of renewable capacity by 2030 and the target of net-zero by 2070. The first phase of the CCTS will target industries such as aluminium, cement, and pulp and paper, covering 282 units that also include large business groups. The scheme will be further expanded to cover sectors such as steel, refineries, petrochemicals, and textiles. The design is clear. Build a compliance-driven cap-and-trade system where firms that outperform emission-reduction targets can sell surplus credits, while laggards must pay for excess emission.
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