REC, EUA, VCM benchmarks with historical trends • Updated 27 Jun 2026
RECs trade on IEX and PXIL under CERC regulation. Floor price: ₹1,000. Forbearance: ₹3,500. 1 REC = 1 MWh renewable energy. Note: RECs are not carbon credits — they represent renewable energy generation, not GHG reductions.
The EU Emissions Trading System is the world's largest compliance carbon market. EUA prices directly determine CBAM duties for Indian exporters. At €68/tCO2e, Indian steel faces ~€80-170/tonne CBAM duty depending on production route.
India's Carbon Credit Trading Scheme is not yet operational. Once trading begins, CCC prices will be determined by market forces within the compliance framework. Early estimates suggest ₹500-1,500/tCO2e based on abatement cost curves.
Voluntary carbon market prices vary widely by project type and vintage. Nature-based (REDD+, ARR): $3-8/tCO2e. Technology removal (DAC, BECCS): $50-500/tCO2e. ICVCM Core Carbon Principles are raising quality and price floors.
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