India’s Carbon Governance

The Clean Development Mechanism

Abstract

Carbon Governance systems – institutional arrangements in place for mitigating greenhouse gas emissions – are different in emerging countries. Indeed, carbon is the same everywhere but Carbon Governance isn’t: in Brazil, the financial community is actively interested in carbon trading, but Chinese banks have hardly any interest in it; and while the Chinese government takes an active interest in providing capacity to project developers, the Brazilian authorities see their role uniquely as guarantors of environmental integrity of emissions reductions projects. In the case of India, carbon governance offers specific features of patterns and interactions mostly because India strongly developed the Clean Development Mechanism and its market. This article proposes a study to the research and understanding of how exactly carbon governance works in the Indian case, knowing that India is the second largest host of CDM projects.