Shubhashis Dey, Director Climate Policy and Climate Finance, Shakti, was invited to speak at the ‘Net Zeroing: Incentives and Carbon Markets for a Sustainable Future’ roundtable organised by BFA-AIIB-CAIXIN alongside the COP28 in Dubai on 1 Dec 2023. He said, “India has considered critical factors like the cost of carbon, NDC/ Net Zero commitments, ease of project management, transparency, credibility of frameworks, and transfer of benefits to underserved communities while designing its approach to both domestic and international carbon markets. Concerning the cost of carbon, the rationale was that technologies with high-cost carbon should be supported through international and bilateral carbon markets (specifically through Article 6.2 or 6.4) where the carbon credits generated from all other technology or interventions should trade either domestically or through voluntary carbon markets. The carbon mitigation achieved from these interventions should account for achieving India’s NDC target.”
