Authors :
Arpit Darbari
Volume/Issue :
Volume 11 - 2026, Issue 3 - March
Google Scholar :
https://tinyurl.com/2s356xcf
Scribd :
https://tinyurl.com/ytx9t8xj
DOI :
https://doi.org/10.38124/ijisrt/26mar260
Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.
Abstract :
Carbon footprints, credits, and markets form the backbone of corporate and policy-driven sustainability strategies
amid escalating climate pressures. This paper dissects their conceptual foundations, empirical effectiveness, and governance
challenges, drawing on systematic reviews, stakeholder surveys from emerging economies like India and Vietnam, and
manufacturing case studies. While credits promise cost-effective mitigation and development co-benefits evidenced by 60%+
stakeholder endorsement for robust systems recent meta-analyses reveal only 16% deliver real reductions due to
additionality failures and over-crediting. Reforms prioritizing verification, transparency, and a reduction hierarchy are
essential for aligning markets with net-zero goals, particularly for MSMEs navigating CBAM and ESG mandates.
Keywords :
Carbon Credits, Carbon Footprint, Sustainability Governance, CBAM Compliance, GHG Scope 1,2 &3, Voluntary Carbon Markets.
References :
- https://www.sciencedirect.com/science/article/abs/pii/S0140988323005388
- https://www.mpg.de/23737687/climate-impact-of-carbon-crediting-projects-substantially-overestimated
- https://css.umich.edu/publications/factsheets/sustainability-indicators/carbon-footprint-factsheet
- https://pmc.ncbi.nlm.nih.gov/articles/PMC10069309/
- https://climatepromise.undp.org/news-and-stories/what-are-carbon-markets-and-why-are-they-important
- https://academic.oup.com/ce/article/9/6/137/8213641
- https://www.nature.com/articles/s41467-024-53645-z
- https://www.worldfuturecouncil.org/carbon-credit-market/
- https://rsisinternational.org/journals/ijriss/articles/the-potential-impact-of-carbon-market-on-climate-change-mitigation-and-the-advancement-of-sustainable-development-goals-in-anambra/
- https://www.ceew.in/publications/stakeholders-survey-on-net-zero-carbon-economy-vision-of-india
- https://openknowledge.worldbank.org/entities/publication/abf9c34f-14a6-4c4f-ac97-f07f4ebd67ff
- https://www.sciencedirect.com/science/article/pii/S2665972725000121
- https://economics.pubmedia.id/index.php/jees/article/download/1022/757/3919
- https://jier.org/index.php/journal/article/download/2878/2352/5150
- https://scholarworks.umb.edu/cgi/viewcontent.cgi?article=1848&context=nejpp
- https://www.sciencedirect.com/science/article/pii/S1876610211008423
- https://dai-global-developments.com/articles/q-a-establishing-domestic-carbon-markets-in-vietnam/
- https://carbonwire.org/carbon-voices/vietnam-sets-sights-on-carbon-market-leadership-as-pilot-exchange-launch-approaches/
- https://www.linkedin.com/pulse/case-study-reducing-carbon-footprint-manufacturing-yatish-2gmwc
20. https://www.cifor-icraf.org/publications/pdf_files/OccPapers/OP-238.pdf\
Carbon footprints, credits, and markets form the backbone of corporate and policy-driven sustainability strategies
amid escalating climate pressures. This paper dissects their conceptual foundations, empirical effectiveness, and governance
challenges, drawing on systematic reviews, stakeholder surveys from emerging economies like India and Vietnam, and
manufacturing case studies. While credits promise cost-effective mitigation and development co-benefits evidenced by 60%+
stakeholder endorsement for robust systems recent meta-analyses reveal only 16% deliver real reductions due to
additionality failures and over-crediting. Reforms prioritizing verification, transparency, and a reduction hierarchy are
essential for aligning markets with net-zero goals, particularly for MSMEs navigating CBAM and ESG mandates.
Keywords :
Carbon Credits, Carbon Footprint, Sustainability Governance, CBAM Compliance, GHG Scope 1,2 &3, Voluntary Carbon Markets.
