National Carbon Market Workshop organized by MNRE in partnership with CMAI

ATK

CMAI acted as a knowledge partner for the afternoon session, which featured a session on ‘A Review of Current and Upcoming Opportunities in the Indian and Global Carbon Markets’. Carbon Markets Association of India Secretary General Rohit Kumar moderated the session, where he spoke on the opportunities in the Indian carbon market and CMAI’s role in providing industry views and suggestions for strengthening the carbon market.

CMAI President Manish Dabkara also moderated a panel discussion at the workshop on ‘Harnessing India’s Position in the International Voluntary Carbon Market; Ensuring Transparency and High Integrity’. The esteemed panel featured industry leaders including Ashok Kumar of Verra, Lokesh Chandra Dube of Gold Standard, Anton Tsvetov of ICVCM and Bianca Gichangi of VCMI.

At this National Coal Market Workshop, Pralhad Venkatesh Joshi, Minister for New and Renewable Energy, highlighted the Panchamrit Growth Strategy and recent budget announcements, outlining a roadmap to leverage coal markets to decarbonize hard-to-cut sectors. He also reiterated India’s commitment to ‘Vasudhaiva Kutumbakam’ for climate action, despite our low per capita emissions.

Bhupinder Singh Bhalla, Secretary, MNRE, spoke about India’s strategic priorities and the need to tap the global carbon market. He emphasised that India is living up to its words as it has now achieved more than double the number of renewable energy installations compared to 2014.

Nameeta Prasad, Deputy Secretary, MoEFCC, provided details of the domestic carbon market, noting that “India is deeply committed to participating in both the domestic and international carbon markets.”

Manish Dabkara, president of the Carbon Market Association of India, said, “In the international voluntary carbon market, India is the largest supplier of credits from renewable energy and energy efficiency projects.”

Rohit Kumar, Secretary General, Carbon Markets Association of India, said, “This workshop is of utmost importance at this juncture, after India has launched the offset mechanism and laid down detailed procedures for compliance mechanism under CCTS. CMAI has been actively sharing views and suggestions from the industry by organizing workshops to enhance capacity building across the sector. Kumar expressed his sincere gratitude to Suman Chandra, Director, Ministry of New and Renewable Energy for facilitating this prestigious national carbon market workshop.

The workshop highlighted the urgent need for climate action and the importance of an international voluntary carbon market to generate carbon finance and mobilise the necessary investments for India’s green energy transformation.

Coal Markets Association of India (CMAI):

Carbon Markets Association of India (CMAI) is the only association in India dedicated to working towards enabling India to move towards a net zero emission future. CMAI along with its members works on 3500 (three thousand) projects across the sector to monitor carbon emissions and help them generate finance across continents and sectors. CMAI works closely with various ministries and stakeholder advisory committees and regularly shares insights on holistic growth of carbon market.

Learn more: https://cma-india.in/

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