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Carbon trading in india is going to be a reality in 2022: let us get started

Dr J P Gupta, Chair, Environment Committee, in his welcome address welcomed all the speakers and set the tone for the programme by apprising the participants about climate change and how carbon dioxide is contaminating the environment further leading to global warming. He also mentioned that the solution of climate change has to be India-centric where ancient wisdom can combat the climate change.

Mr Umesh Sahdev, Executive Chairman, Hydrogenium Resources Pvt. Ltd., in his address spoke about greenhouse emissions and carbon offset which is a tool to mitigate climate change. He highlighted that the climate change is due to rapid industrialization and burning of fossil fuels. He further elaborated on the types of carbon offset namely mandatory and voluntary. He also apprised the participants about major offset programmes and projects which can create offsets.

Mr Dipankar Ghosh, Partner & Leader – Sustainability & ESG, Business Advisory Services, BDO India LLP, in his address mentioned about the quality of offset. A verified carbon offset is a reduction, removal, or avoidance of one metric tonne of carbon dioxide equivalent emissions (MTCO2e) from the atmosphere. A carbon offset credit is a transferrable instrument certified by governments or independent certification bodies to represent an emission reduction of one metric tonne of CO2, or an equivalent amount of other GHGs.

These offset registries track offset projects and issue offset credits for each unit of emission reduction or removal that is verified and certified. Registries are vital in creating a credible, fungible offset commodity. Registries record the ownership of credits. Retiring carbon offsets allows businesses and individuals to reduce their carbon footprint and make a difference in the fight against climate change.

Mr Rohit Garg, Regional Head, Carbon Projects Development South Pole, in his brief presentation mentioned about monetizing mitigation actions through carbon credits. He further apprised how the project is developed from project registration to project verification to project monitoring. He further elaborated on the project types namely renewable projects, water purification, forestry and agriculture, innovations, cookstove project, etc.

Mr Mahendra Kumar Rustagi, Co-Chair, Environment Committee, in his concluding remarks advised the individuals, corporates and MSMEs to take environmental issues seriously and work towards attaining a sustainable environment, while thanking the eminent speakers and participants for sparing their valuable time.

The programme was moderated by Ms Kanchan Zutshi, Sr. Secretary, PHDCCI and attended by Dr J S Sharma, Co-Chair, Environment Committee along with other industry members working on climate change, ESG and environment sustainability.

This article was shared with Prittle Prattle News as a Press Release.
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