IICA, CMAI Sign MoU to Boost Decarbonisation Efforts

In a significant move to advance India’s carbon markets and 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 February 4, 2025, during the inaugural session of the IICA-CMAI Masterclass on Global & Indian Carbon Markets. The event was graced by Shri Nitin Gadkari, Minister for Road, Transport & Highways, who highlighted the critical role of biofuels, green hydrogen, and sustainable energy solutions in shaping India’s economic and environmental future.

The partnership aims to equip industry professionals, policymakers, and academicians with expertise in navigating India’s evolving carbon markets. The IICA and CMAI collaboration will focus on training, research, policy advocacy, and knowledge-sharing to accelerate India’s transition to a low-carbon economy.

Key Highlights of the MoU

1. Strategic Significance

• Strengthens India’s carbon market ecosystem by enhancing capacity-building initiatives.
• Supports climate mitigation strategies and net-zero ambitions.
• Develops a pool of corporates with expertise in carbon offset mechanisms.

2. Key Announcements & Insights

• Shri Nitin Gadkari emphasized,
• The potential of biofuels and green hydrogen in shaping India’s sustainable future.
• India’s goal to achieve hydrogen at $1 per kg, making it a global leader in hydrogen exports.
• The launch of the Sustainable Aviation Fuel (SAF) Alliance to boost sustainable aviation.
• Dr. Garima Dadhich (IICA) announced a Certificate Programme in Decarbonisation to train corporate professionals.
• Mr. Manish Dabkara (CMAI President) highlighted the importance of training, research, and awareness in accelerating decarbonisation.
• Mr. Rohit Kumar (CMAI Secretary-General) stressed the need for policy advocacy and education to expand India’s carbon market.

3. Areas of Collaboration

• Under the MoU, IICA and CMAI will work together in the following areas,
• Training Programmes:  Courses on carbon markets, sustainable finance, and low-carbon industrial solutions.
• Joint Research: Studies on decarbonisation strategies and carbon trading mechanisms.
• Workshops & Conferences: Events to foster dialogue between industry stakeholders, policymakers, and researchers.
• Policy Advocacy: Supporting regulatory frameworks and policies to drive India’s net-zero goals.

IICA-CMAI Masterclass on Global & Indian Carbon Market

• Day 1 Highlights
• Over 70 professionals from leading corporates, PSUs, government bodies, and embassies attended.
• Case-study discussion led by Ms. Shivangi Vashishta (IICA) enhanced engagement.
• A special session was conducted by ERM India’s Managing Partner.
• Day 2 Focus
• Sessions on International Carbon Markets and their role in India’s climate action plan.

About the Organization

Indian Institute of Corporate Affairs (IICA)

• Autonomous institution under the Ministry of Corporate Affairs.
• Specializes in Environmental-Social-Governance (ESG), CSR, Sustainable Finance, Business & Biodiversity Conservation, ESG Audits, and more.

Carbon Market Association of India (CMAI)

• Industry group focused on decarbonisation and net-zero transition.
• Works with MoEFCC, MoP, MNRE, NITI Aayog on policy advocacy.