The Perform, Achieve and Trade (PAT) scheme in India is related to :

The Perform, Achieve and Trade (PAT) scheme is a flagship initiative under the National Mission for Enhanced Energy Efficiency (NMEEE), which is one of the eight missions under India's National Action Plan on Climate Change (NAPCC) [4]. Launched in 2012 and managed by the Bureau of Energy Efficiency (BEE), it serves as a regulatory instrument designed to reduce Specific Energy Consumption (SEC) in energy-intensive industries. The scheme identifies large energy consumers as 'Designated Consumers' and assigns them specific energy reduction targets. It utilizes a market-based mechanism where entities that overachieve their targets are issued Energy Saving Certificates (ESCerts), which can be traded with those who fail to meet their targets [1]. This approach enhances the cost-effectiveness of energy efficiency improvements across sectors like thermal power, cement, and iron and steel [2].

Sources

1. [1] https://www.sciencedirect.com/science/article/abs/pii/S1364032117307165
2. [4] https://beeindia.gov.in/sites/default/files/press_releases/Brief%20Note%20on%20PAT%20Scheme.pdf
3. [2] https://www.beeindia.gov.in/sites/default/files/Booklet_Achievements%20under%20PAT_May%202017.pdf