Reports IndicesTuesday, 26 May 2026·https://testbook.com/current-affairs/26-may-2026-daily-current-affairs
World Bank 2026 carbon markets report: India’s CCTS and global ranking
The World Bank report noted India’s Carbon Credit Trading Scheme launched in 2026 and ranked it as the world’s fourth-largest carbon pricing system by volume.
Key highlights
Direct fact
In 2026, India launched the Carbon Credit Trading Scheme (CCTS), and the World Bank report placed it as the world’s fourth-largest carbon pricing system by volume.
Key specifics
- The scheme covers 7 sectors and about 490 industries.
- Its estimated coverage is 477 million tCO2e.
- Global carbon pricing coverage reached 29% of emissions in 2026.
- Average global carbon prices rose from $10/tCO2e in 2016 to $21/tCO2e in 2026.
- India issued over 375 million carbon credits between 2010 and 2025.
Exam lens
Question type: Economy and environment report-based MCQ, CCTS, 477 million tCO2e, 7 sectors, 29% emissions; TNPSC may ask which scheme made India a major carbon market in 2026.