Roadmap for Answer Writing 1. Introduction Briefly introduce the concept of carbon trading and its significance in tackling climate change. Define carbon trading as a system where carbon credits are bought and sold, allowing entities to offset their emissions by investing in projects ...
Model Answer Preventing Climate Crisis: According to the IPCC report 2018, GHG emissions must reach net zero by 2050 to limit global warming to below 1.5°C and avoid the worst impacts of climate change. This target was incorporated in the Glasgow Climate Pact at COP26 (2021). Protecting Human HealthRead more
Model Answer
- Preventing Climate Crisis: According to the IPCC report 2018, GHG emissions must reach net zero by 2050 to limit global warming to below 1.5°C and avoid the worst impacts of climate change. This target was incorporated in the Glasgow Climate Pact at COP26 (2021).
- Protecting Human Health: Reducing emissions can significantly reduce air pollution. A study in GeoHealth journal states that lowering emissions from power plants in G20 countries could prevent nearly 300,000 deaths by 2040.
- Promoting Innovation and Economic Growth: Transitioning to net-zero emissions stimulates innovation in clean technologies, which can drive economic growth. The shift towards renewable energy and cleaner production methods will create new business opportunities.
- Ensuring Energy Security: Renewable energy sources, unlike fossil fuels, are not subject to price volatility and can provide stable, sustainable energy, enhancing national energy security.
India’s Strategy for Achieving Net Zero
India aims to achieve net-zero emissions by 2070. To reach this target, the country has adopted the following strategies:
- Low Carbon Electricity Systems:
- The National Electricity Plan 2023 aims to achieve 500 GW of non-fossil fuel-based energy by 2030.
- The PLI scheme (2022) promotes domestic manufacturing of solar modules.
- The Energy Storage Obligation and National Hydrogen Energy Mission (2023) focus on enhancing renewable energy capabilities.
- Integrated Transport System:
- India signed the 100% EV Declaration at COP26 and plans to electrify all two-wheelers by 2026.
- The FAME scheme and Bharat Stage VI emissions standards aim to reduce vehicular emissions.
- Low Emission Industrial Systems:
- The Carbon Credit Trading Scheme (CCTS) and amendments to the Energy Conservation Act (2022) encourage energy efficiency and emission reduction in industries.
- Sustainable Urbanization:
- Initiatives like the Energy Conservation Building Code (ECBC) and Energy Efficiency Services Limited (EESL) promote sustainable urban development.
Conclusion
Through these actions, India aims to transition to a low-carbon economy while contributing to global climate action.
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Model Answer Reducing Greenhouse Gas (GHG) Emissions Carbon trading is a key mechanism in addressing climate change by reducing GHG emissions. It provides a market-based solution where entities that exceed their emissions targets can buy credits from those who reduce their emissions, creating financRead more
Model Answer
Reducing Greenhouse Gas (GHG) Emissions
Carbon trading is a key mechanism in addressing climate change by reducing GHG emissions. It provides a market-based solution where entities that exceed their emissions targets can buy credits from those who reduce their emissions, creating financial incentives for emission reductions. For example, trading in sulfur dioxide permits successfully helped reduce acid rain in the U.S. Carbon trading systems have been adopted globally, covering over 21% of global emissions by 2021, up from 15% in 2020-Effectiveness and Flexibility**
Carbon trading is often more cost-effective than imposing direct regulations or taxes on emissions, allowing industries to meet emissions targets without the heavy burden of direct control measures. This flexibility helps reduce the overall societal costs of combating climate change .
Alih the Paris Agreement
Carbon markets align with Article 6 of the Paris Agreement, encouraging international cooperation by facilitating the trade of carbon credits. This fosters a collective global effort to achieve emissions reduction goals .
Promoting Innd Financial Benefits
The system incentivizes industries to innovate and adopt cleaner technologies to reduce emissions. It also offers financial rewards for entities that emit less than their allowed limits by enabling them to sell unused credits .
Key Features oon Credit Trading Scheme (CCTS) 2023
Governance and Oversight
The Ministry of Power has set up the CCTS framework to regulate carbon markets in India. The National Steering Committee (NSC), led by the secretaries of Power and Environment, provides direct oversight of the Indian carbon market .
Role of Bureau of Energy Effic)
BEE will administer the carbon market, setting emission reduction targets, issuing carbon credit certificates, and accrediting carbon verification agencies .
Regulatory Bodies and Functions
The CCTS 2023 is an essential step in India’s climgy, helping to integrate domestic efforts with global initiatives for climate mitigation.
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