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Dr. Chandrakala T M,
Prof. Chithra J M,
- Principal,, Department of Mechanical Engineering, Shushruti Institute of Management Studies Shushruti Nagar, Andrahalli Main Road, Peenya 2nd Stage, Bengaluru, Karnataka
- Assistant Professor, Department of Mechanical Engineering, Shushruti Institute of Management Studies Shushruti Nagar, Andrahalli Main Road, Peenya 2nd Stage, Bengaluru, Karnataka
Abstract
Sustainable development is crucial for overall prosperity of the world. Climate change and the automobile industry have an interesting relationship. long years of environmental policies have been committed to upgrading natural sustainability through accomplishing carbon neutrality or energy utilization effectiveness. This article examines the role of carbon credits as a vital tool in promoting environmental sustainability within the automobile industry. This article research into the specific applications of carbon credits within the automobile industry, exploring how manufacturers can leverage these credits to incentivize the development and adoption of low-carbon technologies, such as electric vehicles, hybrid systems, and fuel-efficient engines. It also discusses the potential challenges and opportunities associated with implementing carbon credit schemes in the automobile sector, including issues related to supply chain emissions, lifecycle analysis, and consumer awareness. Sustainability is more and more important to automobile industry in India due to the factors, for example, the design, development and manufacturing of motor vehicles and CO2 emission reduction, recycling targets, which is the central point of contention. Still, carbon credits play an important role in advancing environmental sustainability. Carbon credits, likewise, called carbon offsets, assume a pivotal part in environmental change by giving a means to compensate for greenhouse gas emissions and promote sustainability. They offer various advantages, including the execution of cleaner advancements, investment in sustainable practices, and change to a low-carbon economy. Notwithstanding, carbon credits hold enormous potential in enabling emission reductions and adding to a sustainable future. Carbon credits help as an intense market-driven motivating force, effectively and efficiently catalyzing the reduction of greenhouse gases and carbon dioxide. These credits work inside the structure of international agreements like the Kyoto protocol and Paris agreement, flourishing inside carbon markets where activities intended to restrict outflows yield tradeable credits. These credits, thus, can be bought by entities looking to adjust their own emissions, in this manner exhibiting their strong obligation to fostering sustainability of the environment. This present descriptive study provides insights into how this innovative approach can contribute to achieving environmental sustainability goals while ensuring continued growth and competitiveness in the automotive sector.
Keywords: Carbon Credits, Carbon dioxide, Greenhouse Gas Emission, Environmental Sustainability, electric vehicles, hybrid systems.
[This article belongs to Journal of Energy, Environment & Carbon Credits ]
Dr. Chandrakala T M, Prof. Chithra J M. Carbon credits as a key tool in Enhancing Environmental Sustainability in Automobile Industry in India. Journal of Energy, Environment & Carbon Credits. 2024; 14(03):1-10.
Dr. Chandrakala T M, Prof. Chithra J M. Carbon credits as a key tool in Enhancing Environmental Sustainability in Automobile Industry in India. Journal of Energy, Environment & Carbon Credits. 2024; 14(03):1-10. Available from: https://journals.stmjournals.com/joeecc/article=2024/view=184053
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Journal of Energy, Environment & Carbon Credits
| Volume | 14 |
| Issue | 03 |
| Received | 08/08/2024 |
| Accepted | 03/09/2024 |
| Published | 19/11/2024 |