Environment Ministry finalises National Designated Authority to kickstart carbon markets

The Ministry of Environment, Forest and Climate Change has announced a ‘National Designated Authority (NDA),’ a mandatory requirement under the provisions of the 2015 Paris Agreement to enable a carbon emissions trading regime.

Within the Paris Agreement, a section called Article 6 defines the contours under which such an emissions trading regime, or a market, can take shape. One of the long-standing bones of contention among countries, Article 6, was finally passed by countries at the 29th edition of the climate COP in Baku, Azerbaijan, in November 2024.