1. Purpose and Framework:
o Facilitates India's Nationally Determined Contribution (NDC) targets.
o Establishes the Indian Carbon Market (ICM) and the Carbon Credit Trading Scheme (CCTS) 2023.
o Aims to reduce, remove, or avoid greenhouse gas (GHG) emissions by pricing emission reductions.
2. Compliance Mechanism:
o Obligated entities must comply with GHG emission intensity targets notified by the Ministry of Environment, Forest and Climate Change (MoEFCC).
o Targets are set based on recommendations from the Ministry of Power and the Bureau of Energy Efficiency (BEE). o Obligated entities must achieve annual GHG emission intensity targets for each compliance year within a defined trajectory period.
3. GHG Emission Intensity Trajectory and Targets:
o Targets developed by BEE in consultation with technical committees.
o Considerations include available technologies, implementation costs, energy efficiency potential, fuel switching, non-fossil fuel use, and decarbonization.
o Emission sources include direct energy use, direct process emissions, and indirect energy-related emissions.
4. Monitoring, Reporting, and Verification:
o Obligated entities must develop a monitoring plan outlining the gate-to-gate boundary, data control, and GHG emissions calculation methodology.
o GHG emissions calculated based on energy use and process emissions, converted to CO2 equivalent using specified formulas.
o Verification activities involve independent assessment of GHG emission reports and intensity.
5. Carbon Credit Certificates (CCC):
o Entities achieving lower than targeted GHG emission intensity receive CCCs.
o Entities failing to meet targets must surrender CCCs, either banked or purchased.
6. Governance:
o National Steering Committee for Indian Carbon Market (NSC-ICM) oversees governance and functioning.
o Comprises representatives from relevant government ministries, state governments, and industry experts.
7. Key Definitions:
o Includes terms like activity data, baseline year, biogenic source of energy, biomass, calculation factors, direct and indirect GHG emissions, emission factor, emission source, and more.
DOWNLOAD LINK PDF
for more details please : CLICK HERE,
