Q. Carbon Credit Trading Scheme, recently seen in news, is an initiative of which ministry?
Answer:
Ministry of Power
Notes: The Union Minister for Agriculture and Farmers’ Welfare recently announced that the agriculture sector is now part of the Carbon Credit Trading Scheme, 2023. This scheme, initiated by the Ministry of Power, involves issuing carbon credit certificates by the Bureau of Energy Efficiency (BEE) to entities that exceed their emission reduction targets. Entities failing to meet targets must buy these certificates. The Ministry of Environment, Forest, and Climate Change sets emission intensity targets, while a National Steering Committee chaired by the Power Secretary oversees the scheme. This inclusion aims to enhance carbon management in agriculture.