New Delhi, Dec 04: The Indian Carbon Market framework under the Carbon Credit Trading Scheme (CCTS) has been established, featuring a National Steering Committee co-chaired by the Secretaries of the Ministries of Power and Environment, with Grid India as the Registry and the Bureau of Energy Efficiency (BEE) as the Administrator.

The CCTS includes two mechanisms: the Compliance Mechanism, requiring emission-intensive industries to meet Greenhouse Gas Emission Intensity targets, and the Offset Mechanism, allowing Non-Obligated Entities to register emission-reduction projects for Carbon Credit Certificates.

Sectors transitioned from the Perform, Achieve and Trade (PAT) scheme to the Compliance Mechanism include aluminium, cement, and textiles, while thermal power plants remain under the P

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