1、ERROL PINTOSenior Consultant Policy and Commercial 2023 THOUGHT LEADERSHIPINDIAS CARBON CREDIT TRADING SCHEME&THE INDIAN GOVERNMENTS CCUS REPORTINDIAS CARBON CREDIT TRADING SCHEME&THE INDIAN GOVERNMENTS CCUS REPORT21.0 KEY MESSAGES 32.0 INDIAS CARBON CREDITS TRADING SCHEME AND THE INDIAN GOVERNMENTS

2、 CCUS REPORT 4 2.1 CARBON CREDIT TRADING SCHEME SUPPORTED BY LAW 4 2.2 INDIAS G20 PRESIDENCY 5 2.3 NITI AAYOGS CCUS REPORT 5 2.4 CCUS IN THE CURRENT INDIAN CONTEXT 6 2.5 CONCLUSIONS 73.0 REFERENCES 8CONTENTSINDIAS CARBON CREDIT TRADING SCHEME&THE INDIAN GOVERNMENTS CCUS REPORT31.Indias central gover

3、nment has passed an amendment to the Energy Conservation Bill that will enable the setting up of a domestic carbon credit trading scheme.The Lower House passed the amendment in August 2022 and the Upper House in December 2022 and it is now law.Entities within India that are allotted credits will be

4、able to trade them domestically.2.NITI Aayog,an Indian central governmental think tank,released a policy framework paper on CCUS on 29 November 2022.The Prime Minister serves as Chairperson.The policy framework is a recommendation to the government sanctioned by the think tank and is authored by man

5、y contributors who bring significant CCUS experience and expertise.3.The report is wide-ranging and acknowledges that CCUS can contribute to decarbonisation and to energy transition.Carbon credits are the main recommended policy mechanism,with a further recommendation of carbon taxes in the future.T

6、he report covers costs in various sectors,an overview of international pricing and financing mechanisms,and a recommendation for India to set up a public sector corporation to promote and help finance CCUS projects in the country.4.The timing is notable as the passing of the amendment and the releas