The Indian Institute of Corporate Affairs (IICA) and the Carbon Market Association of India (CMAI) have formalised their collaboration by signing a Memorandum of Understanding (MoU).
The agreement was unveiled during the inaugural session of the IICA-CMAI Masterclass on Global and Indian Carbon Markets on February 4, 2025.
Minister Highlights India’s Green Energy Goals
Union Minister for Road, Transport and Highways, Nitin Gadkari underscored India’s commitment to alternative energy sources, emphasising the role of biofuels and green hydrogen in the nation’s economic and environmental strategy.
He expressed optimism about India’s ability to produce hydrogen at a cost of one dollar per kilogram, citing ongoing research and development initiatives.
Despite current challenges in capital investment and technology costs, he announced that India is on track to become an exporter of green hydrogen.
Building a Stronger Carbon Market Ecosystem
The collaboration between IICA and CMAI aims to strengthen India’s carbon market and accelerate decarbonisation efforts.
Dr. Garima Dadhich, Head of IICA’s School of Business Environment, introduced the institute’s Certificate Programme in Decarbonisation. The program focuses on corporate expertise in carbon offset mechanisms and long-term operational decarbonisation strategies.
CMAI President Manish Dabkara highlighted the significance of this partnership in creating a robust carbon market ecosystem. The agreement covers several key areas, including:
*Specialised training programs
*Joint research initiatives
*Organisation of workshops and conferences
*Policy advocacy to support India’s net-zero ambitions
Engaging Experts and Industry Leaders
The inaugural session of the Masterclass drew over 70 professionals from diverse sectors, including corporate leadership, public sector undertakings, government agencies, and international organisations. As part of India Climate Week, the event featured case study discussions led by Senior Research Associate Shivangi Vashishta and concluded with an insightful session by ERM India’s Managing Partner.
Institutions Committed to a Sustainable Future
The IICA is an autonomous institution under the Ministry of Corporate Affairs. It promotes responsible business conduct through its School of Business Environment.
Meanwhile, CMAI is a non-profit industry association. It collaborates with key government ministries to facilitate India’s transition to a net-zero future. The focus is on hard-to-abate sectors.
As reported by knnindia.co.in, IICA and CMAI have joined forces. Their collaboration will play a pivotal role in shaping India’s carbon markets. It will also foster a sustainable, low-carbon economy.
