IICA and CMAI Sign MoU to Strengthen India’s Carbon Markets and Drive Decarbonisation Efforts
Mr. Manish Dabkara, President, CMAI, highlighted that the MoU with IICA marks a milestone in building a robust ecosystem for carbon markets in India.

- Country:
- India
In a significant step toward enhancing India’s carbon markets and accelerating decarbonisation initiatives, the Indian Institute of Corporate Affairs (IICA) and the Carbon Market Association of India (CMAI) have signed a Memorandum of Understanding (MoU) in New Delhi. The agreement was announced on the inaugural day of the IICA-CMAI Masterclass on Global & Indian Carbon Markets, a premier event that convenes experts, policymakers, and corporate leaders to discuss strategies for transitioning to a low-carbon economy.
The signing ceremony was graced by Shri Nitin Gadkari, Minister for Road, Transport & Highways, Government of India, who underscored the critical role of biofuels, green hydrogen, and alternative energy sources in shaping India’s economic and environmental future.
India’s Commitment to Green Energy & Carbon Reduction
During his address, Shri Gadkari highlighted pioneering pilot projects in Bio Bitumen, Bio Aviation Fuel, and Bio CNG, emphasizing the need to convert knowledge into wealth and move toward a zero-waste economy. He reiterated that hydrogen is the fuel of the future and shared his vision of reducing the cost of green hydrogen to $1 per kg, a target that India is well on its way to achieving through cutting-edge research and development initiatives.
The Minister acknowledged that while the initial capital investment for clean energy technologies may seem high, continuous innovation and research will unlock their true economic and environmental potential. He emphasized the government’s commitment to developing a diversified biofuels sector and positioned India as a future global leader in Green Hydrogen exports.
Recognizing the importance of sustainable aviation fuels (SAF) in reducing the carbon footprint of air travel, Shri Gadkari also congratulated the organizers on the launch of the Sustainable Aviation Fuel (SAF) Alliance and their efforts to build capacity in this domain.
Empowering Businesses with Decarbonisation Knowledge
As part of the initiative, Dr. Garima Dadhich, Head of the School of Business Environment at IICA, introduced the IICA Certificate Programme in Decarbonisation, designed to equip corporates with advanced expertise in carbon offset mechanisms. The program will help businesses develop climate mitigation strategies and integrate long-term decarbonisation plans into their operations.
A Collaborative Approach to Carbon Market Development
Mr. Manish Dabkara, President, CMAI, highlighted that the MoU with IICA marks a milestone in building a robust ecosystem for carbon markets in India. He stressed the importance of training programs, research collaborations, workshops, and conferences in accelerating sustainable business initiatives.
Mr. Rohit Kumar, Secretary General, CMAI, pointed out that lack of awareness remains a major challenge in the carbon market sector. By combining CMAI’s industry expertise with IICA’s institutional strength, the partnership aims to create impactful learning opportunities to drive India's transition toward a net-zero economy.
Key Objectives of the IICA-CMAI MoU
Under the MoU, IICA and CMAI will collaborate on the following areas:
Training Programs: Developing and delivering specialized courses on carbon markets, low-carbon industrial solutions, and sustainable finance.
Joint Research: Conducting in-depth studies and publishing insights on decarbonisation strategies and carbon trading mechanisms.
Workshops & Conferences: Hosting dialogue-driven events to engage industry stakeholders, policymakers, and academia in carbon market discussions.
Policy Advocacy: Supporting regulatory and policy frameworks that align with India’s net-zero ambitions and global climate commitments.
Masterclass on Global & Indian Carbon Markets – Key Highlights
The IICA-CMAI Masterclass on Global and Indian Carbon Markets, part of the India Climate Week, attracted over 70 professionals from leading corporations, PSUs, government bodies, embassies, and international organizations.
- Ms. Shivangi Vashishta, Senior Research Associate at IICA, led an engaging case study-based discussion, enhancing participant interaction and knowledge-sharing.
- The Day 1 session concluded with an insightful presentation by ERM India’s Managing Partner, emphasizing emerging trends in carbon markets.
- Day 2 of the Masterclass will feature expert-led sessions on international carbon markets, providing a comprehensive perspective on global best practices and regulatory frameworks.
India’s Path to a Sustainable Future
This strategic partnership between IICA and CMAI reflects India’s commitment to becoming a global leader in carbon markets and sustainable energy solutions. By fostering industry-driven collaborations, policy innovation, and knowledge-sharing, the initiative is set to play a pivotal role in India’s journey toward a climate-resilient, low-carbon economy.