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Global Carbon Markets – Phase V

Commissioned By

 BMWK

Implementation Agencies/Partners
Duration Of Project

July, 2018 - September, 2022

Project States

 Pan India

Responsible Person

Objective

In India, the GCM project promotes carbon markets and carbon pricing to reduce emissions and prepare both public and private sector partners for the new generation of carbon market mechanisms.

Context

India is responsible for around seven per cent of global greenhouse gas emissions, making it the world’s fourth highest contributor. However, the country’s per capita emissions are comparatively low at 1.4 tonnes per year.

India ratified the Paris Agreement and in doing so, set out Nationally Determined Contributions (NDC). Now the country faces the task of increasing its prosperity while at the same time reducing CO2 emissions. Market-based climate protection instruments play an important role here.

In the past, India had positive experiences with global carbon markets under the Kyoto Protocol. The country plays a critical role in international climate policy and the negotiations on Article 6 of the Paris Agreement.

Approach including the target group

The project provides evidence-based policy advisory through comprehensive, demand-driven, and sector-specific studies and reports. Training courses, expert events, analyses, and technical advisory services help public and private-sector decision-makers to engage in discussions on carbon markets climate finance instruments and under the Paris Agreement regime.

Work is done with major state-owned enterprises as well as small and medium-sized enterprises and start-ups. The project also supports the Indian partner Ministry of Environment, Forest and Climate Change (MoEFCC) and other actors in using existing and new carbon market instrument for India’s NDCs.

Highlight Activities

  • Two hundred and nineteen public sector officials trained in climate change, climate policy, carbon pricing, carbon markets and climate finance.
  • Supported Steel Authority of India and GAIL India Ltd. to come up with an internal carbon price, making it the first instance that a public sector enterprise has adopted an internal carbon price in India.
  • Five hundred and thirty-one individuals from the private sector, including MSMEs and start-ups trained in voluntary carbon markets.
  • Online training modules on accessing VCM released on Atingi. As on 30 September, the courses attracted 193 and 130 registrations respectively.

Release of the Training Needs Assessment Report for climate action by Indian Public Sector Enterprises with Standing Conference of Public Enterprises (SCOPE) (©GIZIndia/NAME)

Eastern region training workshop for Public Sector Enterprises officials (©GIZIndia/NAME)

Snapshot of the e-learning course on accessing Voluntary Carbon Markets (©GIZIndia/NAME)