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Cant Have Single Market For Carbon Credits Globally: SEBI Chief

By Shivani Kapoor - November 29, 2022

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Mumbai :

Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch has said that there should not be a single carbon credit market in the world. Why should anyone pay extra for locally generated resources on the grounds that their value is higher in the global market, he questioned. He said that the carbon credit system in every sovereign region should be there accordingly. Buch said, “There is discussion around the world that there should be only one carbon credit market. We believe that this is not right from the point of view of emerging markets and low-cost economies in particular, as this will make carbon credits a commodity.” Citing the example of coffee, Sebi’s chairperson said that after all, brands like Starbucks would sell their coffee. What is the need to pay more when coffee is available locally for Rs.10 per cup.

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“When carbon credits are generated in our country, in our jurisdiction, why should it be that these carbon credits are shared only in one place,” Buch said here at an event of the Ministry of Environment, Forest and Climate Change and the National Productivity Council. be the price It’s just like everyone should have the same cup of coffee or the same currency. As a sovereign, it is important that we maintain the independence of carbon credits in the context of the system.

Butch said environmental, social and corporate governance is still emerging and it is imperative that low-cost economies like India have freedom of thought on environmental, social and governance (ESG).

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(This news has not been edited by NewsBust team. It is published directly from syndicate feed.)

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