Episode 10: India Carbon Credit Trading Scheme Deep-Dive with Saurabh Diddi

In this episode of ICAP’s Carbon Market Conversations, host Trevor Laroche-Theune takes listeners on a deep-dive into the carbon pricing and climate policy landscape in India with expert guest, Saurabh Diddi, Director at the Bureau of Energy Efficiency within the Ministry of Power. This conversation focuses on the development and implementation of India’s Carbon Credit Trading Scheme (CCTS), specifically touching on how the system fits into India’s broader climate and energy strategies, key design features, and lessons other jurisdictions can learn from India’s experience. A more detailed breakdown of the topics explored and where you can listen to the episode is listed below.Breakdown of topics covered:0:55 – Introduction to today’s topic and our guests 2:40 – Overview of India’s carbon market development journey4:35 – How India’s Perform, Achieve, and Trade (PAT) Scheme experience informed the Carbon Credit Trading Scheme (CCTS) development8:00 – The goals of the CCTS and how it fits into India’s broader climate and energy strategies incentivizing industry and voluntary market participation 9:30 – CCTS approach to scope 2 and scope 3 emissions and ensuring system integrity12:20 – Relationship between the compliance market and the voluntary offset market13:25 – Emissions targets14:35 – Lessons emerging economies can learn from India’s experience developing the CCTS18:20 – Benefitting from existing MRV infrastructure19:50 – Energy auditing and verification22:40 – Key challenges that must be properly address in the Indian climate policy context24:25 – Closing remarksMore information about the India CCTS can be found here.