Urbanization and climate change will define much of the 21st century. Urbanization leads to improvement in standards of living, and through the increased density and service delivery efficiency of cities, higher growth can be achieved with lower greenhouse gas emissions. Cities and urban agglomerations house more than 50 percent of the global population and contribute more than 70 percent of Global greenhouse (GHG) emissions. As the share of urban population grows, sustainable urban development emerges as an essential component in addressing climate change.

THE FOREST CONSERVATION AND MANAGEMENT ACT, 2016 No. 34 of 2016

Date of Assent: 31st August, 2016

Date of Commencement: By Notice

After five consecutive years of robust growth, the total value of the global carbon market stalled at $142 billion. Suffering from the lack of post-2012 regulatory clarity, the value of the primary Clean Development Mechanism (CDM) market fell by double-digits for the third year in a row, ending lower than it was in 2005, the first year of the Kyoto protocol. The Assigned Amount Unit (AAU) and the United States Regional Greenhouse Gas Initiative (RGGI) markets shrank as well.