Bureau of Energy Efficiency (BEE) Releases Offset Methodologies for Feedback

Bureau of Energy Efficiency (BEE) Releases Offset Methodologies for Feedback

The Bureau of Energy Efficiency (BEE) has released a set of offset methodologies for feedback, approving 10 sectors for the Offset Mechanism under the Carbon Credits Trading Scheme (CCTS). Out of these, six sectors belong to Phase 1, for which 12 methodologies have been developed. These methodologies are adapted from the existing UNFCCC Clean Development Mechanism (CDM) methodologies.

Under the CDM, emission-reduction projects in developing countries can earn certified emission reduction credits, which are tradeable. These credits can be used by industrialized countries to meet part of their emission reduction targets under the Kyoto Protocol.

The methodologies cover a range of sectors, including:

• Industry: Projects for energy efficiency and fuel switching at industrial facilities, grid-connected electricity generation from renewable sources.
• Waste Handling and Disposal: Landfill methane recovery projects.
• Agriculture: Methane recovery from livestock and manure management on households and small farms, production of biofuels.
• Transport: Projects that shift cargo transport from road to rail or water, or promote electric and hybrid vehicles.
• Forestry: Afforestation and reforestation of non-wetland lands.

Carbon Credits Trading Scheme (CCTS), 2023
The CCTS was introduced through amendments to the Energy Conservation (Amendment) Act, 2022, establishing an Indian Carbon Market under two mechanisms:

• Compliance Mechanism: A mandatory program where the government sets greenhouse gas (GHG) emission intensity targets for obligated entities, initially covering 9 sectors, including fertilizer, iron & steel, pulp & paper, petrochemicals, and petroleum refining.

• Offset Mechanism: A voluntary, project-based mechanism for non-obligated entities (not included in the compliance mechanism). These entities can register projects and earn Carbon Credit Certificates (CCCs) upon meeting the eligibility criteria set by the BEE.

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