Indian energy firms join hands to develop a carbon market

India is one of the world's biggest greenhouse gas emitters and it aims to reach net zero emissions by 2070.

Prime Minister Narendra Modi wants India to become an industrial powerhouse while also cutting emissions by 60 million tonnes a year by 2030, highlighting the importance of a robust carbon trading market.

It aims to act as a mediator between government and industry to facilitate trade of carbon credits which would imply increased carbon neutral growth, Dabkara said. The lower house of parliament passed an Energy Conservation Bill 2022 in August that seeks to establish carbon trading. Under a carbon trading scheme, government and private entities can earn carbon credits by reducing their greenhouse gas emissions. The same credits can be bought and sold in markets.

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It is a scam to make billions when carbon emissions reductions will have zero impact on global temperatures in 50-100 years.

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