Mumbai,1st Februrary 2025 – India’s carbon credit market is expanding rapidly, valued at millions, as the government, industry, and society collaborate to establish a robust value chain system for sustainable carbon trading.

In a high-impact roundtable discussion organized by FCF India, industry leaders and policymakers deliberated on the need for a comprehensive policy framework and streamlined government regulations to ensure India’s sustainable development goals for 2047.

FCF India, a leading think tank dedicated to sustainable development, convened top sustainability leaders, corporate executives, and subject matter experts to explore the opportunities and challenges within India’s carbon credit ecosystem. The discussions centered around the evolving role of carbon credits in enhancing India’s environmental and economic landscape.

Dr. Basanna P., Director of Cambridge Institute of Technology, highlighted the accelerating growth of the carbon credit market and its vital role in sustainable development. He emphasized that regulatory frameworks and carbon credit mechanisms are under active development by the government, while global stakeholders recognize India as a key player in the carbon credit market. He further stressed the need for collaborative efforts to create a greener world for future generations.

Mumbai Deputy Municipal Commissioner, Mr. Kiran Dighavkar, renowned for his work on the Dharavi COVID Model, underscored the city’s waste management and water treatment challenges amidst its rising population and infrastructure growth. He revealed that currently, only one sewage water treatment plant in Mumbai is operating at full capacity, with the rest expected to be completed within the next 2-3 years. Consequently, a significant amount of untreated wastewater is discharged into the sea. He also pointed out that solid waste management remains a pressing issue, with only a fraction of waste being effectively treated. To address these challenges, he advocated for an inclusive approach to convert waste into energy.

Jasmeet Singh, Founder and Director of FCF India, stated, “The roundtable provided a unique opportunity for industry stakeholders to gain valuable insights into India’s carbon credit initiatives in light of new central policies and legislation.”

The event under the leadership of Sarah Tantray working as lead for strategic partnerships at FCF India helped put together this roundtable, which witnessed the participation from key industry players, including Reliance, AllCargo, Mahindra Logistics, IDBI Bank, Union Bank, ICICI Bank, MMRDA, IIT Bombay, Wary Solar and carbon credit project developers along with consultants for FCF who are helping companies achieve their net zero goals. Sustainability professionals shared thought leadership and the need for a regulatory framework on corporate decarbonization, ESG (Environmental, Social, and Governance) objectives, and integrating carbon credits into business strategies. The discussion also explored how carbon markets can unlock economic opportunities while supporting India’s commitment to reducing carbon emissions.

As India progresses toward a sustainable future, industry leaders and policymakers continue to emphasize the importance of a well-regulated carbon credit market to drive economic growth and environmental responsibility.