The Carbon Markets Association of India (CMAI) hosted two high-level panel discussions on ‘Carbon Avoidance Solutions – Way Forward for Article 6 Technologies in India’ and ‘Carbon Removal Solutions – Way forward for Article 6 technologies in India’ at its premier flagship event, India Climate Week 2025 in New Delhi. These are among the first in-depth discussions on the subject following the breakthrough agreement at COP29, marking a crucial step in shaping India’s strategy for implementing Article 6 of the Paris Agreement.
The first panel brought together distinguished experts and policymakers, including, Mr. Dhiraj Srivastav, Chief Engineer, Ministry of Power, Government of India; Dr. Umish Srivastav, Executive Director, Indian Oil; Dr. RK Malhotra, President, Hydrogen Association of India; Mr. Kaushal Goyal, Managing Director, KBS Certification Services Limited; Dr. Arkopal K. Goswami, Associate Professor, IIT Kharagpur. The session was moderated by Mr. RR Rashmi, Former Special Secretary, Ministry of Environment & Climate Change, Government of India.
The eminent speakers focused on strengthening institutional capacity for scaling carbon avoidance solutions such as green hydrogen and approved GHG mitigation technologies under Article 6 mechanisms. Experts discussed how India can leverage Internationally Transferred Mitigation Outcomes (ITMOs) to attract investment and bring new opportunities for carbon markets.
“There is now an opportunity under the Paris Agreement where a new mechanism is being created. structure of the market is in place. The guidance on Article 6 is now available. This is good news. The most important thing is that first you have to set up a project. Guidance is now available. It is extremely important and growing area where there is large potential,” said Mr. RR Rashmi, Former Special Secretary, Ministry of Environment & Climate Change, Government of India.
“India is continuously increasing energy saved. We are hoping to doubling it by 2042 or so. India’s national commitments are very clear. We are looking at more than 4% rate of improvement in efficiency by 2030. Compliance market is well on track,” Mr. Dhiraj Srivastav, Chief Engineer, Ministry of Power, Government of India.
“There is a huge potential for these technologies generating carbon credits if you have proper mechanisms. There is huge scope of implementation of these technologies in India and some African countries,” said Dr. Umish Srivastav, Executive Director, Indian Oil.
“The government of India is already incentivising green hydrogen projects. The policies are also needed for blue hydrogen. There are no incentives for this. Carbon credits can always be generated and can compensate for that. But they have to go to VCM. The government has to incentivise the CCU type of tech,” said Dr. RK Malhotra, President, Hydrogen Association of India
“We have to follow the international norms and catch up with the best practices. It should invoke confidence. Additionality and baseline always raise questions; environmental integrity should be focused on,” Mr. Kaushal Goyal, Managing Director, KBS Certification Services Limited.
“We have to focus on transforming urban transport with modal shift and EV; when somebody has options to travel in urban areas, can they choose something that is more energy efficient? Urban mobility demand is like never before now. How do we approach this demand in more sustainable manner is what carbon market can help us do,” said Dr. Arkopal K. Goswami, Associate Professor, IIT Kharagpur.
The second panel, even more crucial to pushing the narrative of global cooperation in Article 6 of Paris Agreement, featured the representative of Indian carbon policy architect, Mr. Saurabh Diddi, Director, Bureau of Energy Efficiency, Government of India; Dr. Neelima Alam, Associate Head, Climate, Energy and Sustainable Technology (CEST) Division, Department of Science & Technology, Government of India; Mr. Richard Bright, CEO, Carbon Registry – India; Mr. Manvendra Yadav, Co-Founder and CEO, Hestiya. It was moderated by Mr. Steve Tan, Vice President (Business Development), Argus Media.
The panel discussion on Carbon Removal Solutions explored the practical path forward for Article 6 technologies in India. The dignitaries discussed capacity building for green CCUS and CDR technologies, rearing expertise in these crucial areas. The discussion emphasized capitalising on international collaboration for CCUS and CDR within ITMO trade and bilateral agreements, opening doors for partnerships and investment. A fundamental element was aligning policies to actively support CCUS and CDR deployment under Article 6, creating an enabling regulatory environment. Finally, the panel highlighted the importance of assessing and streamlining industry compliance for CCUS and CDR, ensuring smooth adoption and implementation of these technologies.
“We are developing 2 kinds of mechanisms, compliance and offset mechanisms. We have identified 9 sectors for the compliance sectors. We have already calculated what will be the marginal cost of reducing 1 ton of carbon emission. By 31st March, we are going to give targets for these 9 sectors,” said Mr. Saurabh Diddi, Director, Bureau of Energy Efficiency, Government of India.
“We are looking at electric mobility and EVs very closely. We are looking at developing tech at the R&D level. For CCUS we have vast approaches. Some of these technologies are at pilot scale now. Carbon markets have gained relevance after Baku. We are trying to develop our funding mechanisms in a way that we can integrate carbon markets in that. Carbon markets are an integral part of our models,” said Dr. Neelima Alam, Associate Head, Climate, Energy and Sustainable Technology (CEST) Division, Department of Science & Technology, Government of India.
“VCM is going to boost carbon ecosystem by driving CBR demand. Incentivising CDR investment as well with CSR funds with this. More capital infusion in this sector, will stabilise the sector. States don’t have much info related to CDR, especially related to state economy and how can they draw funds from VCM, attracting global investments from Article 6.4 and 6.2,” said Mr. Manish Dabkara, President, CMAI and Chairman and Managing Director, EKI Energy Services Ltd.
“We are looking to simplify the process. We understand the importance of tech. We are going to automate the process with AI and reduce the cost and time for project registration,” said Mr. Richard Bright, CEO, Carbon Registry – India.
“To move forward with carbon markets is important for investments to come in for buyers and suppliers. Currently it is very fragmented, makes it difficult for carbon neutrality. There are many projects being developed but the right marketplace and frameworks are complicated for individuals because the market is at an early stage. There should be an ecosystem which only these technologies like Web3 or blockchain can provide,” said Mr. Manvendra Yadav, Co-Founder and CEO, Hestiya.
With carbon markets playing an increasingly vital role in global decarbonisation efforts, these panels aimed to lay the groundwork for India’s leadership in shaping and implementing Article 6 frameworks.
About India Climate Week:
India Climate Week (ICW) 2025 is a five-day high-impact event bringing together policymakers, industry leaders, and global experts to accelerate climate action through carbon markets, sustainable technologies, and policy interventions. Hosted by CMAI, ICW features expert panels, masterclasses, site visits, and strategic MoU signings to advance CBG, SAF, CCUS, and Article 6 implementation. It is hosting landmark events like the launch of the India SAF Alliance and India EPR Alliance, discussions on carbon finance, ESG, environmental commodity markets, and the India Climate Samman Awards to honour sustainability pioneers.
About Carbon Market Association of India (CMAI):
The Carbon Markets Association of India (CMAI) is a leading not-for-profit industry group driving India’s transition to a net-zero future by decarbonising hard-to-abate sectors. Collaborating with key ministries like MoEFCC, MoP, MNRE, and NITI Aayog, CMAI provides policy advocacy, capacity building, and knowledge support. It plays a vital role in initiatives like the Carbon Credit Trading Scheme (CCTS) and Green Credit Programme (GCP). With over 3,500 supported projects, reducing 220 million tons of GHG emissions, CMAI leads efforts in carbon markets, sustainable fuels, and circular economy initiatives through the India SAF Alliance, India EPR Alliance, and more.
