The Central Government, in collaboration with the Bureau, has introduced amendments to the Carbon Credit Trading Scheme, 2023, as outlined in the Energy Conservation Act, 2001. The key changes focus on an “offset mechanism,” allowing non-obligated entities to register projects for tracking and certifying reductions or avoidance of greenhouse gas emissions. Under this offset mechanism, non-obligated entities can now register projects for the issuance of Carbon Credit Certificates. The Bureau, with input from technical committees, will recommend sectors and methodologies for these entities to generate carbon credits. Additionally, it will establish standards and register projects under this offset mechanism.
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