India is set to begin formal trading in its domestic carbon market within the next few months. The Carbon Credit Trading Scheme (CCTS) will initially impose compliance obligations on approximately 490 entities across seven energy intensive sectors, including steel, cement, and petroleum refining. Beyond compliance, the market opens pathways for voluntary offsets, specifically targeting gaps in automotive lifecycle emissions. By documenting the decommissioning of end of life vehicles, companies can now address Scope 3 emissions that previously lacked a formal accounting registry.
