New Delhi, Feb. 5 -- Minister of State for Power Shripad Naik, in a written reply to a question in Lok Sabha on Thursday, said that the Carbon Credit Trading Scheme (CCTS) has been notified with the aim of reducing, removing, or avoiding greenhouse gas emissions.

Naik said the government has taken several steps to operationalise the Indian Carbon Market (ICM). These include setting up the required institutional framework and notifying Greenhouse Gas Emission Intensity (GEI) targets for seven energy-intensive sectors under the compliance mechanism.

Framework and Market Mechanism

The minister stated that approved methodologies under the offset mechanism have been finalised, along with a monitoring, reporting and verification framework. P...