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    Question

    What is the significance of the Carbon Credit Trading

    Scheme (CCTS) mentioned in the Economic Survey 2023-24?
    A It imposes a carbon tax on industries Correct Answer Incorrect Answer
    B It provides subsidies for renewable energy projects Correct Answer Incorrect Answer
    C It establishes a compliance mechanism for GHG emission targets Correct Answer Incorrect Answer
    D It funds reforestation projects Correct Answer Incorrect Answer
    E It promotes international carbon credit exchange Correct Answer Incorrect Answer

    Solution

    The Carbon Credit Trading Scheme (CCTS) discussed in the Economic Survey 2023-24 is a compliance mechanism that sets GHG emission intensity targets for entities, allowing them to trade carbon credits if they exceed their targets, thereby promoting emissions reduction.

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