Carbon credit committee constituted in Himachal to explore carbon market for generating additional revenue
The State Government has constituted a Carbon Credit Committee under the Chairmanship of the Additional Chief Secretary, Forests, to explore various aspects of the carbon market and generate additional revenue for the State.
Chief Minister Thakur Sukhvinder Singh Sukhu stated that the ten-member Committee will study the existing International and domestic carbon markets to develop a sector-specific study for the State. This initiative seeks to enhance the State Government’s capacity to identify, develop, and implement carbon credit projects.
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 would help develop procedures for engaging project developers, consultants, buyers, traders, etc. Furthermore, it would also arrange regular interaction with administrators of the 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 programs to maximize the 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.
