{"id":287699,"date":"2024-03-20T16:19:19","date_gmt":"2024-03-20T10:49:19","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=287699"},"modified":"2024-03-20T16:19:19","modified_gmt":"2024-03-20T10:49:19","slug":"india-to-join-u-s-led-carbon-market-project","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-to-join-u-s-led-carbon-market-project\/","title":{"rendered":"India to join U.S.-led carbon market project"},"content":{"rendered":"

Source<\/strong>-This post on India to join U.S.-led carbon market project <\/strong>is\u00a0based on the article \u201cIndia to join U.S.-led carbon market project<\/a>\u201d<\/strong> published in \u201cThe Hindu<\/b>\u201d on 20th March 2024.<\/p>\n

Why in the News?<\/h2>\n

India has joined one of the four cooperative work programmes under the \u2018clean energy pillar\u2019 of the U.S.-led Indo-Pacific Economic Framework (IPEF). India will join the cooperative working group<\/span> on carbon markets through the Ministry of Power and the Bureau of Energy Efficiency.<\/span><\/p>\n

India is also considering two of the other co-operative work-programme initiatives on clean electricity<\/span> and the use of sustainable aviation fuel.<\/span><\/p>\n

About Indo-Pacific Economic Framework (IPEF) Work Programme<\/h2>\n

1. India is developing its own carbon markets and is keen on joining the IPEF work programme on carbon markets.<\/p>\n

2. The Bureau of Energy Efficiency<\/span> is the nodal authority working on it.<\/p>\n

3. The idea behind joining is to:<\/p>\n

a) Evaluate how carbon markets are developing in each of the economies (of partner countries)<\/p>\n

b) Whether there is a rationale for trying to standardise and integrate these carbon markets at some point in time.<\/p>\n

c) India is working on deepening the country\u2019s carbon markets. Amendments were done to the carbon credits trading scheme (CCTS). <\/span>Joining the programme will <\/span><\/span>help towards establishment of independent standards for carbon trading and would allow non-obligated entities to generate carbon credits.<\/p>\n

About Indo-Pacific Economic Framework (IPEF)<\/h2>\n
\"Economies
Source: Indian Express<\/figcaption><\/figure>\n

1. It is an economic initiative<\/span> launched by USA in 2022.<\/span><\/p>\n

2. The framework was established with 14 regional partners:<\/span> Australia, Brunei, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US, and Vietnam.<\/p>\n

3. \u00a0IPEF aims at having a common set of rules and standards around four pillars- connectivity and digital trade; resilient supply chains; clean energy; and corruption-free fair trade.<\/span><\/p>\n

Read more:<\/strong> IPEF: Indo-Pacific Economic Framework<\/a><\/p>\n

UPSC Syllabus: Environment<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Source-This post on India to join U.S.-led carbon market project is\u00a0based on the article \u201cIndia to join U.S.-led carbon market project\u201d published in \u201cThe Hindu\u201d on 20th March 2024. Why in the News? India has joined one of the four cooperative work programmes under the \u2018clean energy pillar\u2019 of the U.S.-led Indo-Pacific Economic Framework (IPEF).… Continue reading India to join U.S.-led carbon market project<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,4182,1],"tags":[11872],"class_list":["post-287699","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-environment","category-uncategorized","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/287699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=287699"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/287699\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=287699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=287699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=287699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}