India is preparing to launch formal trading in its domestic carbon market within the next few months. The Carbon Credit Trading Scheme will initially cover approximately 490 entities across seven energy intensive sectors, including steel, cement, and petrochemicals, targeting over 700 million tonnes of CO2 equivalent. Beyond compliance, the market opens pathways for voluntary offsets, particularly in the automotive sector. New methodologies are emerging to track carbon credits from the formal scrapping of end of life vehicles, addressing a significant gap in Scope 3 emissions accounting for OEMs and fleet operators.
