In a world contending with the escalating threats of the climate crisis, the urgency to confront the challenges posed by carbon emissions and greenhouse gases has never been more pronounced. Market-based strategies for carbon mitigation have witnessed rapid expansion since the 2015 Paris Agreement, encompassing 73 national and sub-national jurisdictions responsible for 11.66 billion tonnes of CO2e emissions, equivalent to approximately 23% of global greenhouse gas emissions. Taking a substantial stride in addressing this global crisis, the United Nations Development Programme (UNDP) has introduced the National Carbon Registry, an open-source software solution with the potential to revolutionise carbon markets. This groundbreaking software aims to assist countries in efficiently managing and trading carbon credits. As such, it becomes imperative to delve into the significance of the National Carbon Registry, examine the challenges it faces, and explore the prospects it holds for India as it endeavours to meet its climate action goals.


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