ES Ranganathan: Overseas Carbon Credit Trade May Be Key to India’s Climate Success

Carbon credits, also known as carbon offsets, are like tokens that organizations or countries can use to balance out their carbon emissions. They do this by investing in projects that either reduce or remove the same amount of greenhouse gases from the air. These projects could involve things like planting trees, using more renewable energy, or making industrial processes cleaner. The main idea behind carbon credits is to encourage cutting down on emissions and supporting sustainability.

ES Ranganathan points out that India is making big efforts to move towards cleaner energy. They're doing things like increasing how much renewable energy they use, making energy use more efficient, and aiming for more electric vehicles.

India has made a clear commitment to fighting climate change. They've promised to decrease the intensity of their carbon emissions by 33-35% by 2030, compared to what it was in 2005. This is part of their plan outlined in the Paris Agreement.

Now, India is considering letting its carbon credit market trade internationally, which is a new and exciting idea. This would encourage countries to work together on climate change. It would also help India learn from and share technology with other nations to find more sustainable ways of doing things.

This could also bring economic benefits to India. It might attract investments in renewable energy, planting trees, and other projects that cut emissions. This could lead to new jobs and economic growth in the country. ES Ranganathan believes that by exploring this option, India can get more resources to speed up reducing emissions and join hands with other countries to fight climate change.