IICA Inks MoU with CMAI to Advance Decarbonisation Efforts
The Indian Institute of Corporate Affairs (IICA) and the Carbon Markets Association of India (CMAI) have signed an MoU to strengthen India's carbon markets through research, training, policy advocacy, and industry collaboration, advancing the country’s decarbonisation goals.
February 06, 2025. By Mrinmoy Dey
Under the agreement, CMAI and IICA will collaborate on multiple facets including research, training programmes, workshops and policy advocacy. They will collaborate on developing and delivering courses on carbon markets, low-carbon industrial solutions, and sustainable finance. They will be jointly conducting studies and publishing insights on decarbonisation strategies and carbon trading mechanisms.
The areas of collaboration will also include organising events to facilitate dialogue among industry stakeholders, policymakers, and academics. They will also be supporting regulatory and policy frameworks that drive India’s net zero ambitions.
The agreement was announced on the inaugural day of the IICA-CMAI Masterclass on Global and Indian Carbon Markets on February 4, 2025 in presence of Nitin Gadkari, Minister for Road, Transport and Highways.
Speaking during the event, the Minister emphasized the pivotal role of biofuels and green hydrogen in shaping India’s economic and environmental future. He talked about pilot projects related to Bio Bitumin, Bio Aviation-fuel, Bio CNG and highlighted that “Conversion of knowledge into wealth is the future and no material is waste”.
While emphasising the importance of PPP, he shared that “Hydrogen is fuel for the future.” The Minister also shared his vision for the cost of hydrogen to be USD 1/kg, which he is confident India will be the pioneering to achieve due to its state-of-the-art research and development initiatives in this field.
While citing landmark initiatives being undertaken related to the biofuels and alternative fuels, he also mentioned that though the initial cost of capital and technology seems high but significant research is currently underway which will eventually unleash as well as lead to the realisation of its true potential.
He further highlighted the government’s commitment to developing a diversified biofuels sector, acknowledging the vast potential of various fuels to create a cleaner, more sustainable energy landscape and soon India will become a Green Hydrogen exporting country.
Dr. Garima Dadhich, Head, School of Business Environment, IICA, stated that the IICA Certificate Programme in Decarbonisation will be focused on creating a pool of corporates with advanced expertise to develop carbon offset mechanisms for climate mitigation, as well as integrate long-term strategy to decarbonise their operations.
Manish Dabkara, President, CMAI remarked that the MoU with IICA marks a significant step towards building a robust ecosystem for carbon markets in India. Training programs, research opportunities, workshops, and conferences are a huge part of accelerating sustainable business initiatives.
Rohit Kumar, Secretary General, CMAI remarked that awareness has been a major challenge in this area. By combining CMAI’s industry expertise with IICA’s institutional strength, the collaboration will aim to create impactful learning opportunities that will help accelerate India’s transition to a low-carbon economy.
This strategic partnership aims to equip industry professionals, policymakers and academicians with the necessary knowledge and expertise to navigate India’s evolving carbon markets. CMAI, an industry association focused on accelerating sustainable business initiatives, will serve as the knowledge partner to IICA, a think tank under the Ministry of Corporate Affairs, to support the growth and development of the corporate sector in India.
please contact: contact@energetica-india.net.
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