The global voluntary carbon market (VCM) sector has exploded in recent years, and India has been an integral part of this boom. The country has become the world’s second-largest source of projects for carbon offsets. As of June 2023, over 1,400 projects are registered or are under various stages of consideration in the two major crediting programmes — Verra and Gold Standard. Indian projects account for one-fifth of the total carbon credits issued under these two programmes.
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