India stands to gain from the trading of carbon credits
India aims to achieve carbon neutrality by 2070 and reduce its GHG emission intensity by 45% from 2005 levels by 2030. To achieve this, the country is taking measures to establish a carbon credit market and calls on developed nations to fulfil their promise of providing $100 billion in annual climate finance. The establishment of a global carbon market could significantly impact India's domestic carbon market, but a standardized system within a global carbon market could address this imbalance and benefit developing countries. India can position itself as a key player in the global carbon market and achieve its climate goals while promoting sustainable development.
India aims to achieve carbon neutrality by 2070 and reduce its GHG emission intensity by 45% from 2005 levels by 2030. To achieve this, the country is taking measures to establish a carbon credit market and calls on developed nations to fulfil their promise of providing $100 billion in annual climate finance. The establishment of a global carbon market could significantly impact India's domestic carbon market, but a standardized system within a global carbon market could address this imbalance and benefit developing countries. India can position itself as a key player in the global carbon market and achieve its climate goals while promoting sustainable development.