The Bureau of Energy Efficiency (BEE) published a document with methodologies for 12 sub-sectors in 6 sectors for adoption in the offset mechanism under the Indian carbon credit trading system (CCTS), and sought comments on the same. PEG's comments focused on the broader objectives of the Indian CCTS and how the current proposal can be improved to meet them, particularly given the experience from the PAT scheme which forms the basis for the proposed CCTS. In particular, PEG's comments

• sought greater clarity on the market design,
• questioned the need to introduce an offset mechanism at this juncture,
• pointed out the need for additionality to be beyond legal requirements
• highlighted the need for mechanisms to prevent double counting of emission savings
• asked for greater clarity on the fungibility of compliance carbon credit certificates, offset certificates and ESCerts under the PAT scheme and
• sought the rationale for introducing some sub-sectors under the offset scheme.