India’s continued commitment and leadership on climate action is evident in its climate ambition. With this thematic background, the discussion began with the esteemed panelists sharing insights in achieving climate goals in the form of series of presentations on a variety of topics.
“The developmental transition we are in now and that which is to come in the future is very complex. There are severe social, economic and developmental challenges that are all happening at the same time. The domestic market has the potential, if needed, to be linked on an international level. Having a national carbon registry which can be linked to an international registry would be part of a solution,” said Ms Ritu Ahuja while delivering the Framing Presentation.
An important area is MRV and who validates the credits. “In the voluntary markets of India, the credits should have more credibility, which is yet to be seen. A balance should be maintained. The cost of MRV shouldn’t be exponentially high,” cautioned Mr Saurabh Diddi. In a similar line of thought, explained Ms Mahua Acharya, “Digitization of MRV systems is a must in a country like ours. Countries are developing their own registries and to fix the problem of double counting we can connect all the registries.”

Thematic Track: Role of Carbon Markets in India’s Developmental Transition
WSDS 2023 | Group C | Jacaranda 1
Opening Remarks:
Chair: Mr R R Rashmi, Distinguished Fellow, TERI
Framing Presentation: Ms Ritu Ahuja, Climate Change Analyst, World Bank
Keynote Address: ‘Operationalizing Carbon Markets in India’ by Mr Saurabh Diddi, Director, Bureau of Energy Efficiency, Ministry of Power, Government of India
Panel Discussion: Chaired by Mr R R Rashmi, Distinguished Fellow, TERI
‘Necessary Infrastructural Requirements to Support Carbon Markets’
Dr C S Sinha, Adviser, Climate Change, World Bank
Role of Carbon Markets in India’s Development Transition
Ms Mahua Acharya, MD, and CEO, CESL
Role of Markets in Scaling Renewables Beyond Solar
Mr Deepak Gupta, Senior Vice President & Head – Carbon Business, ReNew Power
Voluntary Carbon Market Perspective
Dr Lokesh Chandra Dube, Senior Standards Manager, Gold Standard, India
Landscape of Climate Finance in India and Role of Carbon Markets
Ms Neha Khanna, Manager, Climate Policy Initiative
Carbon Assets from Nature-based Solutions
Mr Vikas Kumar Singh, Executive Officer/Compliance officer, Carbon Checks (India) Pvt Ltd
Closing Remarks:
Chair: Mr R R Rashmi, Distinguished Fellow, TERI

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