New Delhi: The Prime Minister’s council on climate change on Monday approved the National Mission on Energy Efficiency, which among other things will allow industrial units in the country to trade their energy efficiency gains.
The so-called “Perform, Achieve and Trade” mechanism, which would assign energy efficiency improvement targets to the country’s most energy intensive industrial units, with the provision of allowing them to retain any energy-efficiency improvements in excess of their target in the form of Energy Savings Certificates, called ESCerts.
Units will also be allowed to use purchased ESCerts to meet their targets.