IICA and CMAI sign MoU to enhance capacity for decarbonisation
Nitin Gadkari, Minister for Road, Transport & Highways, Graced the Day 1 of the IICA-CMAI Masterclass on Global & Indian Carbon Markets
Under the agreement, CMAI and IICA will collaborate on Training Programmes,
Joint Research, Conferences and Policy Advocacy on Carbon markets, low-carbon
industrial solutions, and sustainable finance
In a significant step towards strengthening India's carbon markets and
advancing decarbonisation efforts, the Indian Institute of Corporate Affairs
(IICA) and Carbon Market Association of India (CMAI) have signed a Memorandum
of Understanding (MoU) in New Delhi. The landmark agreement was announced on
the inaugural day of the IICA-CMAI Masterclass on Global & Indian Carbon
Markets on 4th February, graced by Nitin Gadkari, Minister for Road, Transport &
Highways, Government of India, who emphasized the pivotal role of biofuels
and green hydrogen in shaping India’s economic and environmental future.
He shared pilot projects related to Bio Bitumin, Bio Aviation-fuel, Bio
CNG and highlighted that “Conversion of Knowledge into wealth is the future and
No Material is waste”. While emphasizing the importance of PPP, he shared that
“Hydrogen is fuel for the future”. The Minister also shared his vision
for the cost of hydrogen to be 1 dollar per kg, which he is confident India
will be the pioneering nation to achieve due to its state-of-the-art research
and development initiatives in this field. While citing landmark initiatives
being undertaken related to the biofuels and alternative fuels, he also
mentioned that though the initial cost of capital and technology seems high
but significant research is currently underway which will eventually
unleash as well as lead to the realisation of its true potential. He further highlighted the
government’s commitment to developing a diversified biofuels sector,
acknowledging the vast potential of various fuels to create a cleaner, more
sustainable energy landscape and soon India will become a Green Hydrogen
exporting country. At the end, he congratulated the organisation for launching the
Sustainable Aviation Fuel (SAF) Alliance and the capacity building initiatives
in this domain.
Dr Garima Dadhich, Head, School of Business Environment, IICA, stated
that the IICA Certificate Programme in Decarbonisation will be focused on
creating a pool of corporates with advanced expertise to develop carbon offset
mechanisms for climate mitigation, as well as integrate long-term strategy to
decarbonise their operations.
Manish Dabkara, President, CMAI remarked that the MoU with
IICA marks a significant step towards building a robust ecosystem for carbon
markets in India. Training programs, research opportunities, workshops, and
conferences are a huge part of accelerating sustainable business initiatives.
CMAI is looking forward to a successful partnership in this area. Mr. Rohit
Kumar, Secretary General, CMAI remarked that awareness
has been a major challenge in this area. By combining CMAI’s industry expertise
with IICA’s institutional strength, the collaboration will aim to create impactful
learning opportunities that will help accelerate India’s transition to a
low-carbon economy.
This strategic partnership aims to equip industry professionals,
policymakers and academicians with the necessary knowledge and expertise to
navigate India’s evolving carbon markets. CMAI, a leading industry
association focused on accelerating sustainable business initiatives, will
serve as the knowledge partner to IICA, a think tank under the Ministry of
Corporate Affairs, to support the growth and development of the corporate
sector in India.
Under the agreement, CMAI and IICA will collaborate on:
· Training
Programmes: Developing and delivering courses on carbon markets, low-carbon
industrial solutions, and sustainable finance.
· Joint Research: Conducting studies
and publishing insights on decarbonisation strategies and carbon trading
mechanisms.
· Workshops and
Conferences: Organising events to facilitate dialogue among industry
stakeholders, policymakers, and academics.
· Policy
Advocacy: Supporting regulatory and policy frameworks that drive India’s net zero
ambitions.
The Day 1 of the Masterclass witnessed the participation of more than 70 professionals from leading corporates, PSUs as well as delegations from governmental bodies, embassies and international organisations. The Masterclass on Global and Indian Carbon Markets is being organised by IICA as part of the India Climate Week. Shivangi Vashishta, Senior Research Associate, School of Business Environment, IICA, led a case-study based discussion which led to enhanced delegate engagement. The Day 1 of the Masterclass concluded with an insightful session from Managing Partner, ERM India. The Day 2 of the Masterclass will witness a series of sessions on International Carbon Markets.
The Indian Institute of Corporate Affairs (IICA), is an autonomous
institution under the aegis of the Ministry of Corporate Affairs. School of
Business Environment (SBE) is a specialised vertical within IICA promoting the
responsible business conduct focusing on the forward-looking areas of
Environmental-Social-Governance (ESG), Corporate Social Responsibility (CSR),
Sustainable Finance, Business & Biodiversity Conservation, Business and
Human Rights, Responsible Trade, ESG Audit & Assurance and other aligned
areas.
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.