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Building a Transparent Carbon Trade Policy UPSC NOTE

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  The upcoming COP emphasizes increasing ambition on climate finance , making clear policies essential for effective participation. Article ...

 

  • The upcoming COP emphasizes increasing ambition on climate finance, making clear policies essential for effective participation.

  • Article 6 of the Paris Agreement provides guidelines for carbon markets, enabling trading of carbon credits, which India needs to clarify.

  • Transparent carbon markets encourage climate action by allowing countries to trade credits for emissions reductions, benefiting renewable energy initiatives.

  • India must address existing confusion around credit verification to ensure credibility in its carbon trading efforts.

  • India’s commitment to generate 50% of its electricity from non-fossil sources by 2030 presents significant opportunities for carbon-reduction projects.

  • Emerging private enterprises in forestry can contribute to carbon credits, enhancing India’s role in voluntary carbon markets.

  • Setting emission intensity standards for key industries (like iron and steel) can formalize India's carbon market and drive compliance.

  • A transparent policy aligns India with international standards, enhancing its credibility and attractiveness in global carbon markets.

  • Developing a robust policy will require collaboration among research institutions to create fair and effective carbon trading mechanisms.

  • A clear carbon trade policy is crucial for India’s sustainable development goals and its commitment to combat climate change effectively.


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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Building a Transparent Carbon Trade Policy UPSC NOTE
Building a Transparent Carbon Trade Policy UPSC NOTE
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Learnerz IAS | Concept oriented UPSC Classes in Malayalam
https://www.learnerz.in/2024/10/building-transparent-carbon-trade.html
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