Carbon credit committee constituted to explore carbon market aspects

The State Government has constituted Carbon Credit Committee under the Chairmanship of Additional Chief Secretary, Forests, to explore various aspects of carbon market and generate additional revenue for the State. 

The ten member Committee will study the existing International and domestic carbon market in order to develop sector specific study for the State.  This initiative seeks to enhance the capacity of the State Government in identifying, developing and implementing carbon credit projects, stated Chief Minister Thakur Sukhvinder Singh Sukhu.

The committee will also work to identify the potential carbon credit projects in collaboration with various government departments, stated the Chief Minister. Additionally, it will assist in framing a state climate policy and related frameworks for carbon credits.  The Departments would be guided in formulating projects to secure carbon credits, while the committee will help to develop procedures for engaging project developers, consultants, buyers, traders etc. Furthermore, it would also arrange regular interaction with administrators of Indian Carbon Market and other International carbon standards.  

Chief Minister said that the committee would also provide recommendations for re-aligning the new and existing schemes and programmes to maximize benefits of carbon credits for the State. It will also study the best practices and the successful projects implemented in India across other States to analyze their strategies.