Monitoring, reporting and verification;<\/li>\n<\/ul>\nAccording to the draft Carbon Credit Trading Scheme, agencies accredited by the Bureau of Energy Efficiency as Accredited Carbon Verifiers will carry out validation or verification activities under the Carbon Credit Trading Scheme.<\/p>\n
It is envisioned that the ICM will usher in new emission mitigation opportunities through demand for emission credits by private and public entities. A well designed, competitive carbon market mechanism would enable the reduction of GHG emissions at the level of the entity as well as the overall sector and drive faster adoption of cleaner technologies in a burgeoning economy like India. ICM will accelerate the transition to a low carbon economy and facilitate in meeting India\u2019s NDC goal.<\/p>\n
The establishment of the ICM and the development of the Carbon Credit Trading Scheme heralds new opportunities for stakeholders at various levels of the carbon trading ecosystem including developing methodologies for the estimation of carbon emissions, reductions and removals from registered projects, stipulating the required validation, verification and issuance processes for operationalizing the scheme, carrying out validation or verification activities, \u00a0capacity building of entities for up-skilling in the subject matter etc. It is believed that carbon markets may be a panacea for the current climate crisis and can help accelerate the transformation to a more sustainable future by creating an economic incentive for reducing emissions.<\/p>\n
It would be beneficial for stakeholders and sector experts to closely observe the establishment of ICM and engage with it first-hand in order to contribute towards moving to a more sustainable economy.<\/p>\n
(This Article is solely for information purposes, does not constitute legal or professional advisory and should not be relied upon or used as a substitute for legal advice from attorney.)<\/em>\u00a0<\/em><\/p>\n****<\/span><\/p>\nAbout the Authors: Jayshree Navin Chandra, Senior Partner at ZEUS Law, has been a practicing lawyer since 2001 with extensive corporate and transactional advisory experience. She advises and represents clients ranging from Fortune 500 companies to start-ups as well as Central and State Government departments and public bodies in a wide range of domestic and cross border transactions, across industries in practice areas including Corporate and Company Law, M&A and Joint Venture, Private Equity, FDI & FII, Real Estate and Infrastructure, Data privacy and protection, Intellectual Property, Technology & Commercial Law Advisory.<\/em>\u00a0<\/em><\/p>\nNitika Bakshi, is an Associate at ZEUS Law and works in the Corporate, Technology & Commercial Law practice vertical.<\/em><\/p>\n\u00a0<\/em>ZEUS Law Associates is an ISO certified full service corporate commercial law firm with a team of dedicated and experienced lawyers well versed in handling domestic and cross border transactions across sectors, jurisdictions and regulatory landscapes. The firm\u2019s practice areas include Corporate and Company Law, M&A and Joint Venture, Private Equity, FDI & FII, Real Estate and Infrastructure, Intellectual Property & Commercial Law, Litigation, Alternate Dispute Resolution, Indirect Tax and NRI Services.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"Proposed Indian Carbon Market Framework: Buy and Sell Carbon Credits Author: Jayshree Navin Chandra, Senior Partner, and\u00a0Nitika Bakshi, Associate at […]<\/p>\n","protected":false},"author":2,"featured_media":4885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[24,26],"tags":[42],"_links":{"self":[{"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/posts\/5139"}],"collection":[{"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/comments?post=5139"}],"version-history":[{"count":0,"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/posts\/5139\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/media\/4885"}],"wp:attachment":[{"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/media?parent=5139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/categories?post=5139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zeus.firm.in\/wp-json\/wp\/v2\/tags?post=5139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}