ES Ranganathan: Overseas Carbon Trading as India’s Key to Meeting Climate Targets
India has set an ambitious goal to achieve net-zero emissions by 2070. To reach this target, the country is exploring new ways to reduce carbon emissions. As the world faces the challenges of climate change, nations are working hard to cut down their carbon footprints and adopt more sustainable practices.
A notable initiative comes from India’s Power and New & Renewable Energy Ministry, which is considering allowing the overseas trading of carbon credits related to Green Hydrogen. This move would let India trade carbon credits with other countries, helping it meet its climate goals more effectively.
ES Ranganathan, a key figure in this discussion, explained, “India is a fast-growing and diverse nation with a booming economy. However, this growth has also led to a rise in carbon emissions, especially in the energy and industrial sectors.” He emphasized that trading carbon credits internationally could speed up India’s efforts to reduce emissions. “By buying carbon credits from other countries, India can offset its emissions more efficiently, particularly in areas where cutting emissions is more difficult,” he added.