CMAI inks pact with AREAS for exchange of knowledge on policy, innovation

The MoU aims to work towards a common goal of strengthening the country's journey towards becoming a carbon-neutral economy and aid in the development of the Indian carbon market

Industry body CMAI on Thursday said it has signed an agreement with AREAS to ensure exchange of knowledge on policy and regulatory related developments and innovation in carbon market and enhance setting up of renewable energy projects.

AREAS (Association of Renewable Energy Agencies of States) is a society which has been set up for regular consultations between various state nodal agencies for renewable energy. Union Minister of New & Renewable Energy (MNRE) is the ex-officio patron of AREAS and MNRE Secretary is its ex-officio president.

In a statement, CMAI (Carbon Markets Association of India) said: "It has signed an MoU with AREAS to ensure regular exchange of knowledge, guidance, information, innovation, policy and regulatory developments in the carbon market; and enhance the development of renewable energy projects to offset emissions with a strong focus on community development."

The MoU also aims to work towards a common goal of strengthening the country's journey towards becoming a carbon-neutral economy and aid in the development of the Indian carbon market.

Manish Dabkara, President - Carbon Markets Association of India (CMAI), said, climate actions are gaining momentum worldwide and its positive impact can be seen in India too as the country is taking positive steps on its journey towards net-zero including the efforts to develop a carbon market and National Emissions Trading Scheme (ETS).

"Our association aims to empower this 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 maximising our synergies to the greatest extent possible to achieve our common goal of a net-zero developed India," he said.