NamasteGreenIndia Advances Climate Action: Setting Up Carbon Trading and Green Bond Regulator
Key Developments:
1. Establishment of a Regulatory Body:
India plans to set up a dedicated regulator for carbon trading and green bonds.
The body will oversee activities related to domestic carbon markets and sustainable financing.
2. Legislative Framework:
The Energy Conservation (Amendment) Bill 2022 laid the foundation for a regulated carbon market.
Carbon_Credit_Trading_Scheme 2023 has been approved, which involves forming a National Steering Committee for market governance.
3. Integration with Global Frameworks:
Aligns with the global carbon market rules finalized under Article 6.4 of the Paris_Agreement at COP29 in Baku, Azerbaijan.
Focused on achieving India’s commitment to reducing greenhouse gas emissions by 2030.
4. Securities Market Expansion:
The Securities and Exchange Board of India (SEBI) proposed including green securitization and sustainable debt instruments under its sustainable finance framework.
Key Actions to be Taken:
1. Formation of the Regulatory Body:
Establish an agency similar to NAFED to regulate carbon trading and green bonds.
2. Operationalizing Carbon Trading:
Develop clear rules for carbon credit issuance, trading, and compliance.
Ensure alignment with international standards for credibility and market participation.
3. Promoting Green Bonds:
Create incentives for businesses to issue and invest in green bonds.
Strengthen frameworks for transparency and accountability in green bond utilization.
4. Stakeholder Engagement:
Collaborate with industries, investors, and global climate bodies to ensure successful implementation.
Promote public and private sector participation in carbon markets and sustainable finance.
5. Monitoring and Reporting Mechanisms:
Implement robust systems for tracking carbon emissions reductions and reporting.
Enhance capacity-building efforts to ensure compliance with regulatory norms.
6. Market Integration:
Foster a domestic carbon market and facilitate integration with international carbon trading systems.
Leverage global best practices to establish India as a leader in green finance and carbon trading.
Strategic Objectives:
Drive India’s transition to a low-carbon economy.
Mobilize green investments to meet climate goals.
Achieve a balance between economic growth and environmental sustainability.
This initiative positions India as a key player in global climate action, aligning national economic policies with environmental priorities.
Originally published on LinkedIn on 2024-12-02 16:46:50: https://www.linkedin.com/feed/update/urn%3Ali%3AgroupPost%3A60128-7269391576076800000
NamasteSustainableIndia The second tranche of India’s GreenHydrogen incentive scheme:
Capacity: The second tranche aims to expand India’s green hydrogen production capacity to 450,000 TPA (tonnes per annum).
Pathways:
BucketOne: This bucket includes technology-agnostic pathways, and the majority of the capacity falls under this category.
BucketTwo: Biomass-based pathways are allocated 40,000 TPA
Implementing Agency: The Solar Energy Corporation of India (SECI) will oversee the implementation of this tranche.
Bidding
Bidders will compete based on the least average incentive quoted.
Minimum bid capacity in BucketOne is 10,000 TPA, with a maximum of 90,000 TPA.
BucketTwo, the minimum bid capacity is 500 TPA, and the maximum is 4,000 TPA.
Bidders can participate in either or both buckets.
NationalGreenHydrogen Mission: Launched in January 2023, this mission aims to make India self-reliant through clean energy and lead the global Clean Energy Transition.
Additionally, India plans to provide incentives of at least US$ 0.36 (Rs. 30) per kg for green hydrogen production, contributing to carbon reduction and positioning India as a major exporter in this sector. Exciting times for sustainable energy!
Originally published on LinkedIn on 2024-07-06 12:58:13: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7215338249983041536
