India and European Commission agree continued cooperation on carbon markets
India and the European Commission just wrapped up a meeting in New Delhi, where they dug into how both sides are tackling carbon pricing and tracking emissions.
With India's Power Secretary Pankaj Agarwal and the European Commission's Director-General for Taxation and Customs Union, Gerassimos Thomas, leading the way, both teams agreed to keep working together, especially on things like carbon markets and the EU's Carbon Border Adjustment Mechanism (CBAM).
India updates carbon credit trading scheme
India shared updates on its Carbon Credit Trading Scheme, which now sets emission intensity reduction targets for 490 industrial units.
The country also pointed out that non-fossil energy sources make up over half of its power capacity at 308 gigawatts out of 558 gigawatts total.
The EU recognized these efforts and shared their own progress with CBAM, with both sides planning more technical talks to boost climate collaboration.