Key stakeholders in the carbon markets have come together to form an alliance, the Carbon Markets Association of India (CMAI), to facilitate work across sectors to develop an ecosystem that focuses on India's net-zero goals.

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The association has brought together experts from the realm of climate change in India under a single platform. Its members include Ayana Renewable Power, ACME Solar, Azure Power, EKI Energy Services Ltd, Macquarie Group, IB Vogt Solar India, Hero Future Energies, Gangadhar Narsinghdas Agrawal, Virescent Renewable Energy Trust, GNA Axles, Adani Greens, Sekura Energy, Virescent Infra (KKR), Torrent Power, MPCON, and designated operational entities such as KBS and VKU Certifications.

Earlier this year, the Energy Conservation (Amendment) Bill 2022 was introduced to boost clean energy and help India meet its climate change commitments.

“The domestic market can tremendously accelerate the country’s transition to becoming carbon neutral. The association has been formed with this at its core DNA, bringing together some of the best minds for advocacy and capacity building,” said Manish Dabkara, chairman, managing director and chief executive officer of EKI Energy. He has been appointed as the president of the association.

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The association was registered under Section 8 on March 29, 2022, to serve as a mediator between the industry and the government bodies for drawing up recommendations on policy guidelines related to Article 6.2, Article 6.4 and the National ETS.

With the association, the domestic ETS will be able to take advantage of the full potential and deep learning of international voluntary carbon markets.

The association will play a key role in enabling the development of India’s credit market as it brings together all the key industry stakeholders of the country’s climate revolution, added Dabkara.

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First Published:Oct 12, 2022 10:33 AM IST