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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