The Voluntary Carbon Markets Integrity Initiative (VCMI) and the Carbon Markets Association of India (CMAI) on Friday announced a new partnership aimed at strengthening India’s participation in international high-integrity carbon markets. An official statement said the partnership is anchored in a shared vision and mutual commitment to drive positive environmental change and sustainable development in the region.
The partnership will focus on the following objectives:
1) Empower Indian stakeholders to participate in and benefit from high-integrity international carbon markets: VCMI and CMAI will seek to remove barriers to implementation, promoting an enabling environment for high-integrity VCMs that attract private investments aligned with national and subnational climate and socio-economic policy priorities.
2) Enable fair and high integrity carbon financial flows to India: The statement said current climate finance levels are only a fraction of what they should be to avoid the worst effects of climate change. Voluntary carbon markets are one of the most direct ways to accelerate the transfer of finance from the private sector to local communities where it is needed on the ground.
3) Leverage CMAI and VCMI networks to facilitate scale-up of high-integrity carbon finance activities in priority sectors in India: VCMI and CMAI recognize that only with integrity will we build the trust necessary to enable India’s carbon market to thrive.
Commenting on the partnership, Mark Kenber, Executive Director of VCMI, said: “High integrity carbon markets can mobilize private and public sector finance where it is needed most. Much more needs to be done to unlock the enormous potential of these markets across India; Through this exciting partnership, we aim to support the growth of high integrity VCM across the country and thereby measurably accelerate climate action, innovation and equitable development.
Manish Dabkara, president of CMAI, said he was excited about the collaboration with the Voluntary Carbon Markets Integrity Initiative (VCMI). “This partnership represents a pivotal moment for the Indian carbon market, contributing to the creation of a resilient and trustworthy market and the global climate action movement. By connecting local communities, policymakers and buyers, we aim to improve the integrity and resilience of the Indian carbon market. walk. Together with VCMI, we look forward to fostering high-integrity voluntary carbon markets that align with India’s climate and socio-economic priorities, driving positive environmental change and equitable development. I welcome this alliance, anticipating its profound impact on accelerating climate action and innovation,” he said.
Endorsing this, Rohit Kumar, Secretary General, CMAI, said, “This collaboration represents a transformative union across the entire carbon market landscape, seamlessly connecting grassroots farmers in remote areas with influential Indian policymakers and to demanding buyers. « As part of India’s growing carbon market, this partnership signifies the creation of a resilient and trustworthy market. It strengthens our country’s committed journey towards achieving net zero emissions. CMAI is truly excited about the collaboration with VCMI, planning significant progress towards a sustainable future.”
