Charting India's path to a zero-carbon future

The Carbon Credit Trading Scheme (CCTS), notified under the Energy Conservation (Amendment) Act 2022, establishes India's first domestic compliance carbon market. Designated consumers in nine energy-intensive sectors, including cement, aluminium, iron & steel, petrochemicals, chemicals, textiles, pulp & paper, chlor-alkali, and rubber, must meet carbon credit obligations or face penalties. Terravay provides the full suite of CCTS services: from initial obligation assessment and entity registration to MRV system design, third-party verification management, and active credit trading strategy on the Indian Carbon Market (ICM).

The Perform Achieve and Trade (PAT) scheme under the National Mission for Enhanced Energy Efficiency is one of the world's largest industrial energy efficiency programmes. Designated consumers who overachieve their energy reduction targets earn Energy Saving Certificates (ESCerts), a tradeable asset class on Indian Energy Exchange (IEX). Terravay helps PAT designated units set achievable targets, implement efficiency measures, and monetise their ESCert surplus through strategic trading on IEX.

India's Green Credits Programme (GCP), notified under the Environment Protection Act, rewards voluntary pro-environmental activities with tradeable green credits. Activities eligible include tree plantation on degraded land, water conservation, sustainable agriculture, waste management, air pollution reduction, and mangrove conservation. Terravay helps corporates, farmers, municipalities, and community groups design, register, and monetise GCP projects creating a new revenue stream from environmental stewardship.

Beyond India's domestic compliance markets, global voluntary carbon markets offer Indian companies both the ability to sell high-quality carbon credits internationally and the opportunity to offset residual emissions credibly. Terravay develops carbon projects under Verra VCS, Gold Standard, and Article 6.4 mechanisms, and advises corporate buyers on sourcing credible, high-integrity credits. We help Indian project developers access international carbon finance, channelling capital into renewable energy, afforestation, cookstoves, and sustainable livelihoods projects.

Renewable Energy Certificates (RECs) allow non-solar and non-wind entities to meet their Renewable Purchase Obligation (RPO) requirements and corporate clean energy goals without physical power procurement. The Indian REC market, regulated by CERC, trades on IEX and PXIL. Terravay advises DISCOM, CPP, open access, and obligated entities on RPO compliance strategy, REC procurement, and the transition to long-term renewable procurement agreements.

The European Union's Carbon Border Adjustment Mechanism (CBAM) is now a compliance reality for Indian exporters of cement, iron & steel, aluminium, fertilisers, and electricity. From 2026, EU importers of these goods must declare and pay for embedded carbon content. For Indian manufacturers, this means robust emissions data is no longer optional, it is a commercial requirement. Terravay provides Indian exporters with the carbon accounting infrastructure, disclosure frameworks, and EU regulatory intelligence they need to protect market access and pricing.