Topic: Conservation, environmental pollution and degradation, environmental impact assessment.
6. What is a carbon market? Evaluate the potential to have a carbon market framework in India to incentivize carbon emission reduction and fight climate change. (250 words)
Difficulty level: Moderate
Reference: Live Mint
Why the question:
This monsoon session of Parliament concluded with the passing of the Energy Conservation (Amendment) Bill, 2022) by the Lok Sabha. Among other things, the bill proposes a momentous carbon market framework in India to incentivize carbon emission reduction
Key Demand of the question:
To write about carbon market and India’s potential in using to fight climate change.
Directive word:
Evaluate – When you are asked to evaluate, you have to pass a sound judgement about the truth of the given statement in the question or the topic based on evidence. You must appraise the worth of the statement in question. There is scope for forming an opinion here.
Structure of the answer:
Introduction:
Begin by defining carbon market.
Body:
In the first part, in detail, write about the structure and functioning of carbon market and its brief history.
Next, write about the potential of carbon markets in reducing carbon emissions and fighting climate change. Write the ways in which it would help. Substantiate with facts and examples.
Next, write about the challenges and limitations associated with carbon markets in India. Mention ways to overcome them.
Conclusion:
Conclude by writing a way forward.
