Carbon markets play a crucial role in the overarching framework of climate policy, offering a cost-effective means to diminish greenhouse gas emissions while encouraging the adoption of low-carbon technologies and practices. These markets encompass a diverse array of instruments and can operate at both national and international levels. Compliance carbon markets stem from governmental or international regulatory agreements, whereas the voluntary market attracts buyers seeking to fulfill their self-imposed climate commitments.
Leveraging carbon market opportunities to create additional finance is necessary through the Carbon Credits Trading Scheme (CCTS), Article 6.2 & 6.4 of the Paris Agreement, and the Voluntary Carbon Market (VCM), where India is already taking proactive initiatives and leading efforts.
India is making significant strides in carbon credit investments through Voluntary Carbon Markets (VCM). As of June 2023, 860 projects were registered and 1,451 projects were under consideration at leading carbon crediting certifiers, Verra and Gold Standard.
India is a major country, with almost one-fifth (298 million) of global carbon credits issued to Indian entities. This represents nearly 10% of our country’s annual greenhouse gas emissions in 2020. By May 2023, 163 million credits have been retired. Notably, India has surpassed China, retiring 163 million credits compared to China’s 100 million by May 2023. Globally, recorded transactions in 2021 were $1.98 billion (INR 16,342 crore) involving 493 million credits issued or retired.
At COP 28, one major discussion was on the operationalization of Article 6, focusing on international compliance carbon markets. However, negotiations faced challenges and ultimately failed to produce a deal, leading to continued uncertainty. Expectations were high for progress under Article 6.2 (bilateral or multilateral cooperation) and Article 6.4 (International carbon compliance markets).
In conclusion, as India strives to achieve its ambitious sustainability goals by 2050 and beyond, substantial investment in climate finance is imperative. With estimates indicating a need for trillions of dollars to reach net zero by 2070 and a significant increase in climate finance required by 2030, leveraging carbon markets emerges as a vital strategy.
To further promote stakeholder interactions and to learn from the key Government departments promoting awareness Diligentia Services in association with Carbon Markets Association of India (CMAI) is thrilled to announce the event, titled ” Conference on Converging Green Solutions with Carbon Markets to Achieve India’s Net-Zero Targets,” scheduled on 16th May 2024 , New Delhi Hotel Le-Meridien.
This event aims to explore innovative strategies and initiatives in coverging carbon markets and green credits to accelerate India’s transition to a low-carbon economy. With distinguished speakers and insightful sessions, it offers a unique platform for networking, knowledge sharing, and collaboration.
Participation Opportunities
Delegates
Sponsors/ Exhibitors
We look forward to your presence at this significant event as we work together towards a sustainable and resilient future for India.
Session 1: Plenary Session
Session 2: International Cooperation on Achieving Climate Goals
Session 3: Role of Bioenergy in India’s Clean Energy Mix
Session 4: Focus on Carbon Removal Solutions and Alternative Fuels
CMAI: The Carbon Markets Association of India (CMAI), it is a not-for-profit organization. It is a strategic alliance of industry experts who have joined hands to enable the development of a robust carbon credit market in India and accelerate the country’s journey to achieve its commitment of achieving Net-Zero by 2070. We wholeheartedly support the government’s initiatives to establish the National Cap & Trade Carbon Market, which would let businesses and industries help India meet its obligations under the NDC. With the key ministries and stakeholder consulting committees. We have shared representations on Article 6.2, 6.4 of Paris Agreement with the Prime Minister’s Office (PMO) and the Ministry of Environment, Forest & Climate Change (MoEF&CC). Also, supporting the promotion of LiFE campaign, and a technical committee member of the Green Credit Programme (GCP). We provide regular industry feedback on the Indian Carbon Market (ICM) to the Ministry of Power (MOP). We are also technical member of planning commission, NITI Aayog committee on Carbon Capture, Utilization, and Storage (CCUS). We are a member of Greenhouse Gas and Climate Change and Related Activities Subcommittee, CHD 34: SC 1, at the Bureau of Indian Standards (BIS). Lastly, we are knowledge partner to Ministry of New & Renewable Energy (MNRE), Association of Renewable Energy Agencies of States (AREAS), Ministry of Railways, and Jal Jeevan Mission for exploring the opportunity to offset projects and generate environmental credits. Prominent members of CMAI are Nayara Energy Ltd, Reliance Industry Ltd., Clean Max Enviro Energy Solutions Pvt Ltd, NTPC Ltd, EKI Energy Services Limited, Enviance Services Private Limited, International Carbon Exchange Private Limited (ICX), MPCON Ltd (Government Sector), Reliance, Vitol and many more. (www.cma-india.in)
TIIC: TIIC , established in 1949, is the first State level Development Financial Institution promoted for catalyzing industrial development . The Corporation had financed Greenfield projects, many of which are presently successful brands. TIIC provides financial assistance for purchase of land, machinery and construction of buildings. The purpose could be for setting up new units / expansion / modernization / diversification of existing industries. Assistance is extended to both manufacturing and eligible service sector industries. It focuses on extension of assistance to Micro, Small, and Medium enterprises, which account for 90% of the total assistance. Further about 40% of the total assistance is availed by first generation entrepreneurs.The Corporation is guided by a Board of senior Bureaucrats, Banking Professionals and Sector representatives. The Corporation has continuously earned profit for past 18 years. TIIC has so far assisted 1,27,277 units with a cumulative sanction of Rs.19,444 crores upto 31.03.2021.
TEDA: TEDA, 9 Years Experience In Solar & Renewable Energy Industry TEDA is Tamil Nadu Energy Development Agency. It is an independent agency setup by Government of Tamil Nadu in the year 1984, as a registered society with a specific purpose – to create awareness and migrate the State from using fossil fuels to renewable energy. To promote the use of new and renewable sources of energy (NRSE) and to implement projects therefore. To promote energy conservation activities. To encourage research and development on renewable sources of energy.
Ambetronics Engineers Pvt. Ltd: Welcome to Ambetronics Engineers Pvt. Ltd.!
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GasTech Systems Private Limited: GasTech a market leader in Dual Fuel Systems is a green energy startup promoting the use of natural gas for Internal Combustion (IC) Engines. The company is headquartered in Bengaluru. Our R&D is in close collaboration with IISc Bengaluru. Our offices are in Gurugram & Pune for providing services pan India.
GasTech Systems Private Limited, offer NG based Dual fuelling solutions; an innovative retrofit technology that allows liquid fired engines to operate on a mixture of liquid fuel and Natural Gas. We have special expertise in Dual Fuel (Diesel+ Gas) solutions for power generation and transportation. GasTech supplies DFK for stationary power generation in India where natural gas is available in any form.
We have long years of experience in Diesel engines and Dual Fuel technology, deep knowledge of sensors, electronic controllers and Cloud technologies powered by IIoT focused digital transformation.
Ajay Mathur: International Solar Alliance (ISA)
R.K. Jain: Indian Railways
Deepesh Nanda: Tata Power Renewable Energy Limited (TPREL)
Kapil Kumar Jain: Gas Authority Of India Ltd (GAIL)
Subhash Kumar: Association of CGD Entities (ACE)
Abhay Bakre: Bureau of Energy Efficiency
Anton Tsvetov: ICVCM
Bianca Gichangi: VCMI
Atul Sharma: Sarvada Legal
Damon DuBord: Embassy of the United States of America
Darpan Jain: Ministry of Commerce & Industry
Abhay Sinha: Services Export Promotion Council (SEPC)
Ashok Kumar: Verra
Jitender Rathore: Gastech
Sanjay Ganjoo: Indian Federation of Green Energy
Hans Raj Verma: Tamil Nadu Industrial Investment Corporation Limited
Alok Sharma: Indian Oil Corporation
Gaurav Mishra: Ministry of New and Renewable Energy (MNRE)
Atul Kharate: Indian Oil Adani Ventures Ltd.
Ddhant Gupta: EKI Energy Services Limited
Ashish Tiwari: Department of Environment, Forest & Climate Change, Government of Uttar Pradesh
Vikram Vishal: IIT Bombay
Saurabh Diddi: Bureau of Energy Efficiency
Md Mazher Alam: Indian Oil
Lokesh Chandra Dube: Gold Standard
Adith Haridas: Blockvolt
Jnath Ram: NITI Aayog
Nitin Bhatt: Energy Efficiency Services Limited (EESL)
Vimal Kumar: Finovista
