HYDERABAD: To accelerate the country’s climate goals, the Bureau of Energy Efficiency (BEE) unveiled two guidelines—detailed compliance mechanisms and accreditation procedures for criteria verification agencies—during a recent workshop in Hyderabad.
The workshop was attended by stakeholders from various industries, including steel, cement, textile and paper.
The compliance mechanism outlines how companies can monitor, report, and verify their GHG emissions while earning carbon credits. This system enables fair trading of credits, rewarding companies that exceed emission-reduction targets and providing cost-effective options for others.
The accreditation procedure sets standards for accredited carbon verification agencies (ACVs), which will audit emission reduction claims, ensuring the accuracy and fairness of the carbon credit system.
Saurabh Didi, Director BEE, highlighted that southern states, particularly Telangana, with their strong industrial base and advanced technologies, will play a key role in implementing the Indian Carbon Market (ICM) alongside industry stakeholders.
The ICM is crucial for India’s strategy to reduce GHG emissions as part of its Nationally Determined Contributions under the Paris Agreement. The new guidelines aim to facilitate carbon credit trading, helping companies offset emissions and supporting India’s goal of reducing GDP emission intensity by 45% by 2030 and achieving net-zero emissions by 2070.