On Thursday, the industry association CMAI announced that it has entered into an agreement with AREAS to share information and knowledge on policy and regulatory developments, advancements in the carbon market and to promote the establishment of renewable energy projects.
AREAS (Association of Renewable Energy Agencies of States) is a society that has been established to facilitate regular consultations among various state-level agencies responsible for renewable energy. The Union Minister of New & Renewable Energy (MNRE) serves as the ex-officio patron of AREAS, and the MNRE Secretary acts as its ex-officio president.
In a statement, CMAI (Carbon Markets Association of India) announced that it has signed a Memorandum of Understanding (MoU) with AREAS (Association of Renewable Energy Agencies of States) to foster regular exchange of knowledge, guidance, information, innovation, policy and regulatory developments in the carbon market. The MoU also aims to enhance the development of renewable energy projects to offset emissions with a strong focus on community development. The ultimate goal of this collaboration is to support the country’s efforts to become a carbon-neutral economy and to contribute to the growth of the Indian carbon market.
Manish Dabkara, President of the Carbon Markets Association of India (CMAI) stated that Climate actions are gaining momentum globally and this trend is reflected in India as well, as the country is taking positive steps towards achieving net-zero emissions, including the development of a carbon market and a National Emissions Trading Scheme (ETS). He added that the MoU signed with AREAS will help to strengthen the country’s efforts to become a carbon-neutral economy and aid in the development of the Indian carbon market.
“Our association aims to empower the journey towards carbon neutrality, and we are delighted to collaborate with AREAS. We look forward to facilitating the development of a robust carbon market in India and maximizing our synergies to the greatest extent possible to achieve our common goal of a net-zero developed India,” said Manish Dabkara, President of the Carbon Markets Association of India (CMAI).