• About us
  • Contact us
  • Our team
  • Terms of Service
Tuesday, June 2, 2026
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

Bill to set up carbon markets introduced in Lok Sabha

Press Trust of india by Press Trust of india
August 3, 2022
in BUSINESS
A A
0
Farooq Abdullah among 15 MPs nominated as associate members of delimitation panel
FacebookTwitterWhatsapp

New Delhi: A bill that seeks to make it mandatory for buildings with a minimum connected load of 100 kW to meet their energy requirements from renewable sources was introduced in the Lok Sabha on Wednesday.

Power Minster R K Singh introduced in the Lok Sabha the Energy Conservation (Amendment) Bill that also has provisions to establish carbon markets and empower state electricity regulatory commissions to make regulations for a smooth discharge of its functions.

More News

PM interacts with record-breaking sprinters, highlights Kerala swimming initiative in Mann Ki Baat

Canada, India officials express optimism over trade pact talks

Likely moderation in economic activity; near-term growth outlook shows cautious resilience: FinMin

Load More

Trinamool Congress MP Saugata Roy opposed the introduction of the Bill, contending the provisions were not sufficient to find alternative sources of energy and the bill seeks to make the Bureau of Energy Efficiency (BEE) a top-heavy structure.

“This Bill has nothing to improve the introduction of green hydrogen, green ammonia and other non-fossil fuels,” Roy said and urged the government to bring more comprehensive draft legislation.

Seeking to address concerns raised by Roy, the Union power minister said the bill did not seek to turn BEE into a large body, but only increase the members in the governing council to ensure participation of other departments in its functioning.

“We are also introducing carbon markets. A person embracing renewable energy will earn credits which can be purchased by others. This will make financing renewable energy projects easier,” Singh said.

The Bill seeks to mandate the use of non-fossil sources, including green hydrogen, green ammonia, biomass and ethanol for energy and feedstock.

Singh said big residential buildings consume 24 per cent of electricity and the bill has provisions to make such buildings more energy efficient and sustainable.

It also has provisions to slap penalties for non-compliance with the rules by industrial units or vessels, and on manufacturers if a vehicle fails to comply with fuel consumption norms.

“With the passage of time, and in the context of the energy transition with special focus on the promotion of new and renewable energy and National Green Hydrogen Mission, a need has arisen to further amend the said Act to facilitate the achievement of ‘Panchamrit’ – as five nectar elements presented by India in Conference of Parties -26 in Glasgow last year,” Singh said in the Statement of Objects and Reasons of the Bill.

The amendments also seek to promote renewable energy and the development of a domestic carbon market to battle climate change, introduce new concepts such as carbon trading and mandate the use of non-fossil sources to ensure faster decarbonization of the Indian economy and help in achieving sustainable development goals in line with the Paris Agreement.

“It is considered necessary to have legal provisions to prescribe minimum consumption of non-fossil energy sources as energy or feedstock by the designated consumers. This will help in the reduction of fossil fuel-based energy consumption and resultant carbon emissions to the atmosphere,” the Union minister said.

Similarly, a need was also felt to provide a legal framework for a carbon market to incentivise actions for emission reduction leading to increased investments in clean energy and energy efficiency areas by the private sectors, he added.

Previous Post

Tehsildar, his clerk arrested for demanding, accepting bribe in Srinagar: ACB

Next Post

Militants Attack police vehicle in Allochibagh Srinagar, no injury reported: Police

Press Trust of india

Press Trust of india

Related Posts

PM interacts with record-breaking sprinters, highlights Kerala swimming initiative in Mann Ki Baat

Mann ki Baat resumed, PM congratulates ECI and everyone associated with the 2024 election
June 1, 2026

New Delhi:  Prime Minister Narendra Modi on Sunday had a lively conversation with sprinters Gurindervir Singh and Animesh Kujur, both...

Read moreDetails

Canada, India officials express optimism over trade pact talks

India summons Canadian envoy over pro-Khalistani activities in Canada
June 1, 2026

Toronto: Canadian and Indian officials have expressed optimism about ongoing negotiations on a proposed free trade agreement during a business...

Read moreDetails

Likely moderation in economic activity; near-term growth outlook shows cautious resilience: FinMin

USAID funded 7 projects in India in FY24 but not related to ‘voter turnout’: FinMin report
May 30, 2026

New Delhi: With forecasts pointing to a below-normal monsoon and a likely moderation in economic activity, overall consumption demand may...

Read moreDetails

Bengal will work with Centre to ensure state receives all benefits of double-engine govt: CM Suvendu

Suvendu urges swift deportation of illegal Bangladeshis gathered at Hakimpur border checkpoint
May 30, 2026

Kolkata:  West Bengal Chief Minister Suvendu Adhikari on Saturday said his government would work closely with the Centre to ensure...

Read moreDetails

Quad unveils energy, critical minerals and maritime surveillance initiatives

Quad unveils energy, critical minerals and maritime surveillance initiatives
May 26, 2026

New Delhi: Seeking to inject fresh momentum into the grouping, the Quad on Tuesday announced energy security and critical minerals...

Read moreDetails

India, US sign landmark pact to secure critical minerals supply chain amid China concerns

Defence deals boost India-US ties, new era in relations, say experts
May 26, 2026

New Delhi: India and the US on Tuesday firmed up a key framework for cooperation in ensuring steady supplies of...

Read moreDetails
Next Post
CRPF SI kills senior, self in Delhi

Militants Attack police vehicle in Allochibagh Srinagar, no injury reported: Police

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: kashmirimages123@gmail.com

© 2025 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2025 Kashmir Images - Designed by GITS.