MNRE, CMAI jointly organise ‘National Carbon Market Workshop’ in New Delhi

The Ministry of New & Renewable Energy, in collaboration with the Carbon Markets Association of India (CMAI), EY, and Shakti Sustainable Energy Foundation, hosted a national workshop on carbon markets – “Accelerating Green Hydrogen and Clean Energy” – to help achieve India’s net zero targets.

The MNRE Minister Pralhad Joshi was the Chief Guest who emphasized the Panchamrit growth strategy and recent budget announcements, outlining a roadmap to harness carbon markets for decarbonizing hard-to-abate sectors.

The workshop covered crucial topics such as carbon market opportunities for Nationally Determined Contributions (NDCs), strategies for effectively engaging buyers within the Indian Carbon Market, and ensuring high integrity and transparency.

CMAI conducted a special session on the ‘Overview of Present and Upcoming Opportunities in the Indian and Global Carbon Markets.’ Rohit Kumar, Secretary General of CMAI discussed Indian carbon market opportunities and CMAI’s role in sharing industry feedback and suggestions to strengthen the carbon market.

CMAI President Manish Dabkara also led a panel discussion on ‘Leveraging India’s Position in the International Voluntary Carbon Market; Ensuring Transparency and High Integrity.’ The panellists included industry leaders such as Ashok Kumar from Verra, Lokesh Chandra Dube from Gold Standard, Anton Tsvetov from ICVCM and Bianca Gichangi from VCMI.

Bhupinder Singh Bhalla, Secretary of MNRE, discussed India’s strategic priorities and the need to leverage the global carbon market. He highlighted that India has more than doubled its renewable energy capacity since 2014.

Nameeta Prasad, Joint Secretary of MoEFCC, presented details on the domestic carbon market, stating, “India is deeply committed to participating in both domestic and international carbon markets.”

Manish Dabkara noted, “In the International Voluntary Carbon Market, India is the largest supplier of credits originating from renewable energy and energy efficiency-based projects.”

The workshop underscored the urgency of climate action and the significance of the international voluntary carbon market in generating carbon finance to mobilize the necessary investments for India’s green energy transition.