PR No – 35
13th February, 2024
New Delhi
Interactive Session on Indian Carbon Market
Carbon Credit and Trading Scheme (CCTS) & its Impact on Indian Industry
Monday, 12th February 2024 | PHD House, New Delhi
The PHDCCI Carbon Markets Forum hosted an Interactive Session on Indian Carbon Market which focused on the theme ‘Carbon Credit and Trading Scheme (CCTS) & its Impact on Indian Industry’, held on February 12, 2024 at PHD House, New Delhi.
Dr. Ranjeet Mehta, Executive Director, PHDCCI during his welcome address apprised that India’s commitment to reducing carbon emissions by 45% by 2030 offers multifaceted opportunities for both industrial sectors and individuals to contribute to sustainable development. This commitment serves as a catalyst for fostering innovation, embracing renewable energy, and adopting environmentally conscious practices, thereby paving the way for a greener and more resilient future for all stakeholders.
Shri Saurabh Diddi, Director, Bureau of Energy Efficiency (BEE) in his keynote address emphasized that climate change is impacting all aspects of life and that every nation is working on reducing its carbon emissions. He stressed on the necessity of achieving net-zero emissions. He highlighted India’s pledge to reduce emission intensity by 45%, noting the nation’s significant progress towards this goal. He emphasized the imperative of embracing an environmentally conscious lifestyle, rooted in India’s inherently sustainable cultural and traditional practices. Furthermore, he articulated the importance of carbon markets in accelerating the achievement of Nationally Determined Contributions (NDCs) goals and informed that it will create the demand for emission reduction, and help mobilise investments.
Mr. Vikash Kumar Singh, Executive Director, Carbon Check (India) Pvt. Ltd. provided insights from the industry’s perspective, commending PHDCCI for convening such a crucial stakeholders’ gathering. He underscored the pressing need for capacity building in offset crediting mechanisms within India, advocating for the establishment of an ecosystem conducive to knowledge enhancement. He highlighted the significance of bridging domestic and international markets to foster broader participation and integration, thereby fortifying the marketplace for offsets.
Dr. Jatinder Singh, Assistant Secretary General, PHDCCI extended gratitude to the session’s experts and stakeholders during the vote of thanks.
The session featured an engaging Q & A segment, enabling industry participants to interact with the speaker and seek clarification on pertinent issues.
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Warm Regards,
Media Division
PHD Chamber of Commerce and Industry