A programme called the Carbon Credit Trading Scheme, recently developed by the Ministry of Power, would aid in improving the environment in our nation. According to the plan, our pollutant output will be down by 45% from 2005 levels. To do this, carbon credits—a form of special currency for pollution—are traded. Simply described, the National Steering Committee is a collection of influential individuals that the government assembles. They are in charge of guaranteeing the fair and equitable operation of the carbon market. They are led by the Secretaries of Power and the Environment, who are in charge of keeping a tight eye on things.
The Central Electricity Regulatory Commission (CERC) oversees trading activities, while the Bureau of Energy Efficiency (BEE) develops regulations for the Indian carbon market with the assistance of the NSC. The Indian carbon market is monitored by the Grid Controller. When you take steps to help the environment, such as using less electricity or planting trees, you can earn carbon credits, which are kind of like special stickers.
The value of each sticker is equivalent to the amount of pollution that one ton of carbon dioxide gas would have created, and it shows how much pollution you have helped to reduce. BEE is akin to a group that offers unique certificates to communities who successfully reduce their pollution in exchange for their assistance. Additionally, they guarantee the credibility of the organisations granting these credentials. If a company does a really good job in reducing emissions, they get special certificates. If a company cannot reduce emissions enough, they can buy these certificates from other companies.
