Carbon market regulations expected in months as govt studies global models

Government officials are expected to set up regulations for the domestic carbon market in the coming months, having examined models in Europe and green-conscious countries, Dirk Forrister, President and CEO of International Emission Trading Association (IETA), said here on Wednesday.

"We are waiting for details as to what the targets would look like, and what flexibility will be affordable," he told PTI in comments on the progress of India's carbon market development.

Asked to estimate the Indian carbon market size, he said, "We can't estimate just yet because the details are still being produced by the Indian government.

"On the demand side, the strength of the market is to be set by regulations. We don't know how tough they are but they will be coming out in the coming months and not years away."

India has enormous power needs and interests in bringing existing infrastructure but it is also working to attract more investments in renewables and energy efficiency programmes, he not