India has issued a revised draft proposing mandatory greenhouse gas emission intensity targets for 255 iron and steel plants. Managed under the Carbon Credit Trading Scheme (CCTS), this framework includes major manufacturers like Tata Steel, JSW Steel, SAIL, and ArcelorMittal Nippon Steel India.

The framework designates FY2023-24 as the baseline year, establishing FY2026-27 as the initial compliance period. Under these rules, businesses beating their objectives will earn tradable carbon credit certificates. Conversely, non-compliant factories face environmental penalties equal to twice the average market rate of those credits.

The Ministry of Environment, Forest and Climate Change (MoEFCC) has requested public feedback on this updated draft within 60 days. This addition makes steel the ninth energy-intensive industry incorporated into the national market-based carbon management system.