IICA and CMAI Sign Landmark MoU to Boost India’s Decarbonisation Efforts and Strengthen Carbon Markets.
New Delhi:
In a major move to accelerate India’s transition to a low-carbon economy, the Indian Institute of Corporate Affairs (IICA) and the Carbon Market Association of India (CMAI) have signed a Memorandum of Understanding (MoU) to enhance collaboration on decarbonisation strategies. The agreement was announced on the inaugural day of the IICA-CMAI Masterclass on Global and Indian Carbon Markets, held in New Delhi, and attended by Nitin Gadkari, Minister for Road, Transport & Highways.
The MoU aims to build capacity and promote sustainable solutions by focusing on carbon markets, low-carbon industrial practices, and sustainable finance. Under the partnership, IICA and CMAI will jointly develop and offer training programs, conduct research, organize workshops, and advocate for policies to support India’s net-zero ambitions. These efforts are designed to equip professionals, policymakers, and academic institutions with the skills and knowledge to navigate the rapidly evolving landscape of carbon markets and decarbonisation.
On the occasion, Nitin Gadkari emphasized the importance of biofuels and green hydrogen in India’s energy future. The Minister outlined several pioneering pilot projects, such as Bio Bitumen, Bio Aviation Fuel, and Bio CNG, which he believes will drive the country towards cleaner and more sustainable energy sources. He also expressed confidence that India would become a global leader in green hydrogen production, with a vision for the cost of hydrogen to drop to just one dollar per kilogram, supported by significant advancements in research and development.
“Conversion of knowledge into wealth is the future,” Gadkari said, stressing that no material should be considered waste. He further highlighted the government’s commitment to building a diversified biofuels sector, which will not only reduce emissions but also create economic opportunities.
The partnership between IICA and CMAI also addresses the pressing need for awareness and education regarding carbon markets and decarbonisation. As Manish Dabkara, President of CMAI, remarked, the MoU marks a key step towards building a robust ecosystem for carbon markets in India. He added that the collaboration will significantly boost sustainable business initiatives in the country.
Dr. Garima Dadhich, Head of the School of Business Environment at IICA, shared that the new IICA Certificate Programme in Decarbonisation will focus on equipping corporate leaders with advanced expertise to implement carbon offset mechanisms and develop long-term strategies for decarbonising their operations.
The Day 1 of the Masterclass, attended by over 70 professionals from corporates, PSUs, and government bodies, set the tone for in-depth discussions on global and Indian carbon markets. The event included a case-study session led by Shivangi Vashishta, Senior Research Associate at IICA, followed by a session from ERM India, which deepened delegate engagement.
The MoU and the Masterclass are part of India’s broader climate strategy, which aligns with the government’s goals to reduce emissions and enhance the role of the private sector in environmental sustainability. With increasing collaboration between industry leaders, government bodies, and research institutions, India is poised to take significant steps toward meeting its net-zero targets and becoming a global leader in sustainable energy solutions.
The partnership will also include workshops, conferences, and policy advocacy to create a comprehensive framework that supports India’s green transition and positions the country at the forefront of global decarbonisation efforts.
About IICA:
The Indian Institute of Corporate Affairs (IICA) is an autonomous institution under the Ministry of Corporate Affairs, focusing on responsible business practices, including ESG (Environmental, Social, and Governance), sustainable finance, and corporate social responsibility.
About CMAI:
The Carbon Market Association of India (CMAI) is a not-for-profit industry group dedicated to driving India’s transition to a net-zero future. CMAI works with various government ministries and institutions to provide policy advocacy, capacity building, and knowledge support in the areas of carbon markets and decarbonisation.
