Sunday, July 21, 2024

CMAI partners London-based body VCMI to help stakeholders with the norms of carbon credits

Homegrown Carbon Markets Association of India (CMAI) has partnered with global body Voluntary Carbon Market Integrity Initiative (VCMI) to help stakeholders with the norms of carbon credits which is a developing market in India.

The agreement with London-headquartered VCMI aims to guide industry players from the registration process for projects involved in generation of carbon credits, monitoring of projects to trading of the carbon credits generated in a transparent manner, CMAI said in a statement.

The partnership will seeks promoting an enabling environment for high-integrity voluntary carbon market (VCMs) that attract private investment aligned with national and sub-national climate and socioeconomic policy priorities, the statement said.

As part of the agreement, CMAI and VCMI will facilitate the stakeholders in scaling up carbon finance activities across priority sectors in India.

Mark Kenber, Executive Director, VCMI said “Through this partnership we aim to support high integrity VCM growth across the country, accelerate climate action…and equitable development.”

Manish Dabkara, President, CMAI said the partnership signifies a pivotal moment for India’s carbon market, contributing to the creation of a resilient and trustworthy marketplace and the global climate action movement.

“By connecting local communities, policymakers, and buyers, we aim to enhance the integrity and resilience of India’s carbon market. Together with VCMI, we are eager to foster high-integrity voluntary carbon markets that align with India’s climate and socio-economic priorities, driving positive environmental change and equitable development,” Dabkara said.

VCMI is an international non-profit organization which works to enable high-integrity voluntary carbon markets (VCMs). The organization is aligned with the goals of the Paris Agreement.

CMAI is a strategic alliance of industry experts who work towards carbon offset solutions. It offers services like policy research and advocacy, innovative interventions, capacity building, community initiatives, partnerships among others.

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