India must reshape its export game for a world of climate-focused trade measures
At the centre sits the Carbon Credit Trading Scheme (CCTS), its first explicit carbon-pricing mechanism that establishes emissions-intensity benchmarks for energy-intensive sectors such as cement, aluminium, petrochemicals, refining, pulp and paper, and textiles. Firms performing better than the benchmarks earn tradable carbon credits while underperformers must purchase credits or face penalties.
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