From Emission Reduction To Market Exchange: An Integrated Analysis Of Carbon Credit Generation, Verification, Trading, And Regulation In India
Navpreet Sharma, NMIMS, School of Law, Chandigarh
ABSTRACT
Carbon emissions remain one of the most serious environmental issues facing the world in the twenty-first century, as they are responsible for climate change, global warming, ecological destruction and public health hazards. As India is the third largest emitter of carbon dioxide globally, there arises the need for sustainable economic development and meeting international obligations on climate change at the same time. This research paper analyses the issue of carbon emissions, industrial pollution in India and the use of carbon credits as a tool of emission reduction. International legal principles of carbon trade have been discussed in detail through the Kyoto protocol and Paris agreement while the incorporation of carbon credits under the national legislation of India through acts like Environment (Protection) Act, 1986, Air (Prevention and Control of Pollution) Act, 1981 and Energy Conservation Act, 2001 have been discussed.
