Overview
- Each verified reduction of one tonne of CO2 equivalent will generate a tradable carbon credit for sale in voluntary or compliance markets.
- Proceeds from credit sales will be deposited into the State Consolidated Fund for pollution control, climate resilience and development.
- The Environment Department is the nodal agency, with a specialised firm to be selected through a transparent tender to identify projects and register credits.
- Monitoring, reporting and verification will align with platforms such as VERRA, Gold Standard and the Indian Carbon Market to ensure credibility.
- Eligible reductions will be drawn from initiatives like electric buses, solar adoption, plantation drives, waste management, Yamuna rejuvenation and landfill biogas under a revenue-sharing model that requires no upfront state expenditure, drawing on examples from Indore, Meghalaya and Arunachal Pradesh.