Activities finalised to be considered for trading of carbon credits under Article 6.2 mechanism to facilitate transfer of emerging technologies and mobilise international finance in India
India has notified the National Designated Authority for the Implementation of the Paris Agreement (NDAIAPA) vide Gazetted Notification dated 30.05.2022 The Authority is mandated inter-alia to take decisions in regard to the type of projects that may take part in international carbon market under Article 6 mechanisms.
This is in the backdrop of the Paris Agreement Rulebook being finalized in respect of Article 6 which focuses on carbon trading through bilateral/cooperative approaches and international market mechanisms. India has taken steps mandated on the Host Party/Country.
Following list of activities has been finalized to be considered for trading of carbon credits under bilateral/ cooperative approaches under Article 6.2 mechanism.
I.GHG Mitigation Activities:
- Renewable energy with storage (only stored component)
- Solar thermal power
- Off- shore wind
- Green Hydrogen
- Compressed bio-gas
- Emerging mobility solutions like fuel cells
- High end technology for energy efficiency
- Sustainable Aviation Fuel
- Best available technologies for process improvement in hard to abate sectors
- Tidal energy, Ocean Thermal Energy, Ocean Salt Gradient Energy, Ocean Wave Energy and Ocean Current Energy
- High Voltage Direct Current Transmission in conjunction with the renewal energy projects
II.Alternate Materials:
12. Green Ammonia
III.Removal Activities:
13. Carbon Capture Utilization and Storage
These activities will facilitate adoption/transfer of emerging technologies and may be used to mobilise international finance in India. The activities will initially be for first 03 years and may be updated/revised by NADAIPA.
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MJPS/SSV