India: The Ministry of Environment, Forest and Climate Change has issued a draft notification to establish India’s first compliance-based carbon market, according to The New Indian Express. The draft covers heavy industries such as cement, and lists 186 cement plants belonging to Ultratech Cement, Ambuja Cement, Dalmia Cement and others. These plants must cut greenhouse gas emission intensity (GEI) for two years, starting from the 2025–26 financial year under the Carbon Credit Trading Scheme 2023. Non-compliant producers must purchase carbon credit certificates, or failing this, face penalties from the Central Pollution Control Board. The draft will be finalised following a 60-day public consultation.
India releases draft notification for greenhouse gas emissions targets
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