India’s carbon credit market, guided by the Carbon Credit Trading Scheme (CCTS) 2023, aims to accelerate the country’s transition toward a low-carbon economy and meet its Net Zero 2070 goal. The market allows entities to trade verified emission reductions through renewable energy, afforestation, and sustainable farming projects. However, challenges such as weak verification systems, limited domestic demand, inequitable benefit-sharing, and risks of land displacement persist. Strengthening monitoring, reporting, and verification (MRV), ensuring community participation, and improving regulatory transparency are essential for building a fair, credible, and effective carbon market that supports inclusive climate action.
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