What are ESCerts?

National Mission on Enhanced Energy Efficiency was approved in August, 2009. It involves a mechanism called Perform, Achieve and Trade mechanism which would assign energy efficiency improvement targets to the country’s most energy-intensive industrial units, with the provision of allowing them to retain any energy-efficiency improvements in excess of their target in the form of Energy Savings Certificates, called ESCerts. Units will also be allowed to use purchased ESCerts to meet their targets.