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EKI Energy Embraces Tech List Released by Indian Government Under Article 6.2 of Paris Agreement

This initiative would soon generate a significant volume and speed in both domestic Indian ETS and foreign trade (FDI) under Article 6.2 for carbon credits/offsets.

February 21, 2023. By EI News Network

India has finalized a list of tasks that is majorly considered for selling carbon credits on the global market, in assent with Article 6.2 of the Paris Agreement, in a move that is ascertained to agreeable investors in the carbon credit market.

The list made public by the Union Environment Ministry includes Greenhouse Gas (GHG) transition activities, optional materials, and discharge activities. It contains renewable energy with storage (only retrieved part), solar thermal power, wind, green hydrogen, fuel cells, high-end technology for energy efficiency, sustainable aviation fuel, best accessible technologies for process upgrade in Energy-Intensive Industries, high voltage direct current transmission in integration with the renewable energy projects, carbon capture utilization and storage.

The list was successively made as a wish list of areas where India aims to captivate outlays, with the investing nation or company getting a share of the carbon credits obtained from deploying these technologies to start off carbon emissions.

This notification pertaining to the earlier amendment Energy Conservation Act 2022, and the next forward commitment to regularize the National Emission Trading System (National ETS) of India, have liberated new market potentials for the business sector to partake towards carbon neutral development.

The investment taking place by industrialists in low-carbon technologies will currently have five distinguished market divisions to opt from for revenue-generating activities their carbon credits. These contain Domestic Compliance Carbon Markets (National ETS with National Registry Compliance), Domestic Voluntary Carbon Markets (Voluntary Corporate Actions with National Registry Compliance), Article 6.2 of the Paris Agreement Carbon Markets (Sovereign Trade through Bilateral and Cooperative mode under UNFCCC), Article 6.4 of the Paris Agreement Carbon Markets (International Compliance & Voluntary Carbon Market under UNFCCC) and International Voluntary Carbon Markets (Voluntary Corporate Actions through Independent Credible Registry Systems).

Manish Dabkara, Chairman & MD, EKI Energy Services Ltd. said, "India has essentially signaled a long-term policy outlook, welcoming investments in specific technologies/activities, as notified. It will encourage investors and businesses to make informed investments in the promotion of these low-carbon technologies in the fastest growing market in the world, leveraging the assured carbon revenue."

EKI Energy coming forward as the international biggest carbon credit developer, acknowledging the notification and which will continually be boosting the future carbon market and assist to come over stakeholders’ trust in this concern for the green future ahead.

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