Article
Carbon Credits Enter The Market: India's First Regulatory Framework For Exchange-Traded Carbon Credit Certificate
The concept emerged from international climate architecture - first under the Kyoto Protocol, 1997, which introduced market-based mechanisms such as the Clean Development Mechanism, allowing developed countries to offset emissions by investing in reduction projects in developing nations, and subsequently under the Paris Agreement, 2015, which commits signatory nations to achieving their self-declared Nationally Determined Contributions (NDCs) towards limiting global temperature rise.
Khaitan & Co LLP