The CBAM is a call to action for India to expedite the development of its own compatible mechanisms, enabling Indian industries to produce verified and accredited emission statements for the EU, according to Anu Chaudhary, head of environmental, social and governance at Uniqus Consultech. “This would require robust systems on par with international standards, particularly those set forth by the EU Emissions Trading System.”
India plans a carbon trading scheme by 2025. While initially voluntary, it may be considered to be regulatory in the near term, Chaudhary said.
For India to effectively participate in the global carbon market and meet international regulatory standards, it is imperative that it align the framework with the EU ETS and other global standards to ensure international acceptance, according to Chaudhary.
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