The Bureau of Energy Efficiency (BEE) has convened a meeting with automobile manufacturers next month to discuss the offsetting of regulatory obligations including penalties accrued on account of default under the CAFE-II (Corporate Average Fuel Economy) norms via the upcoming Carbon Credit Trading Scheme, sources told FE.
At present, while domestic carbon credit have been defined, and some have been awarded to auto players, however, their usage for offsetting of regulatory obligations can only begin after the trading scheme comes into force. The scheme is being framed by the BEE, Ministry of Power to offset regulatory obligations via the purchase and exchange of carbon credits.
