India’s carbon markets: Transitioning from ambition to action

Policymakers, industry leaders, investors, academics, and researchers all have a vested interest in the growth of India’s carbon markets. That’s why ICF convened a roundtable earlier this year to bring together government representatives, market stakeholders, and international experts for an in-depth conversation on recent updates, challenges, and new approaches.

Our latest report offers insights from this event.

Why download this report?

• In-depth analysis: Gain insights into the allocation process of the European Union Emission Trading Scheme (EU ETS) and how it parallels India's approach. Understand the significance of the Market Stability Reserve (MSR) and its role in stabilizing prices.
• Financial challenges and solutions: Learn about the hurdles India faces in achieving its ambitious emissions goals and how carbon markets can help bridge the gap.
• Historical context and future outlook: Explore the evolution of India's participation in global carbon markets and the introduction of the 2023 Carbon Credit Trading Scheme (CCTS).
• Comprehensive framework: Understand the institutional framework of the CCTS, including the roles of the National Steering Committee for Indian Carbon Market (NSCICM), Bureau of Energy Efficiency (BEE), Central Electricity Regulatory Commission (CERC), and Grid Controller of India Limited.
• Addressing key challenges: Discover the key challenges of the CCTS, such as target setting, enforcement mechanisms, price stability, capacity building, and robust Measurement, Reporting, and Verification (MRV) systems.