- GS-3: Conservation, environmental pollution and degradation
- GS-2: International Organisations
Context: The Parliament passed the Energy Conservation (Amendment) Bill, 2022 on December 12, declining the Opposition’s demands to send it for scrutiny to a parliamentary committee and amid concerns expressed by members over carbon markets.
- The Bill amends the Energy Conservation Act, 2001, to empower the Government to establish carbon markets in India and specify a carbon credit trading scheme.
Main Practice Question: Why do you think Carbon market is a ray of hope to help the world achieve climate targets set out in Paris Accord? What challenges do you foresee in making it a success?
Note: Write answer his question in the comment section.