Resource detail

To help India achieve its Nationally Determined Contribution (NDC) goals, the Indian government is trying to create a market for carbon credits. India has updated its NDC goals recently to reflect reducing emissions by 45%, generating 50% of power from renewable energy sources and reaching net zero emissions by 2070. In the past, India has made investments in producing carbon credits and exporting them to international enterprises. Between 2010 and June 2022, India issued 35.94 million carbon credits or nearly 17% of all voluntary carbon market credits issued globally.  The market for carbon credits increased by 164% globally in 2021. It is anticipated to reach $100 billion by 2030.