Carbon Markets Association of India (CMAI), a coalition of eminent stakeholders of India’s climate change industry and Association of Renewable Energy Agencies of States (AREAS) have signed an MOU to provide regular exchange of information, innovation, knowledge, technological, policy and regulatory developments in carbon trading and assist in the development of Indian carbon market to empower country’s stride towards a net-zero future.
Under the MOU, both the entities have joined hands to ensure regular exchange of knowledge, guidance, information, innovation, policy and regulatory developments in carbon market; and enhance the development of renewable energy projects to offset emissions with a strong focus on community development. The MOU aims to work towards a common goal of strengthening country’s journey into a carbon neutral economy and aide the development of Indian carbon market.
Mr. Jeevan Kumar Jethani, Executive Director, AREAS said, “Government of India has announced to achieve net-zero by 2070, which requires emission control and reduction. Carbon emission trading, facilitated through a robust carbon market, provide flexibility in achieving emission reduction targets for an entity. We aim to strengthen this transformation and develop more RE and GHG mitigation projects, promote grid-connected and off-grid renewable energy, guide larger group of associates about climate change & carbon neutrality and ultimately accelerate the net-zero journey; while enhancing country’s energy access and securities.”
Mr. Manish Dabkara, President – Carbon Markets Association of India, said, “Climate action is gaining momentum worldwide and its positive impact can be seen in India too as the country is taking positive steps on its journey towards net-zero including the efforts to develop Indian carbon market and National Emissions Trading Scheme (ETS). Our association aims to empower this journey towards carbon neutrality; and delighted to collaborate with AREAS. We look forward to facilitating the development of a robust carbon market in India and maximising our synergies to the greatest extent possible to achieve our common goal of a net-zero developed India.”
CMAI and AREAS will together work towards end-to-end carbon offset management of GHG mitigation projects and generate carbon finance while guiding their associates about carbon neutrality and net-zero goals with collaborative recommendations for structured roadmap towards a net-zero future.