NEW DELHI: In a Cabinet meeting held on Tuesday, the Delhi government gave a nod to implement the ‘Carbon Credit Monetisation Framework’ in the national capital, following in the footsteps of Meghalaya, Arunachal Pradesh and Indore city.
The proposed framework aims to systematically identify, quantify, register, and monetize greenhouse gas (GHG) emission reductions generated from various climate and sustainability initiatives being implemented by the government.
These initiatives include projects related to electric mobility, renewable energy, solid waste management, urban forestry, water and wastewater management, energy efficiency, and green public transport, among others. Under the framework, the Department of Environment, Forests and Wildlife will function as the nodal department. Through a transparent tender or request for proposal process, the department will select a specialised agency, which will identify schemes that can generate carbon credits.
It will also undertake documentation and registration in accordance with international standards, officials said. The entire process will be based on a revenue-sharing model, meaning the government will not have to incur any expenditure.