Delhi Chief Minister Rekha Gupta has given the green light to a significant Carbon Credit Monetisation Framework, as announced by Environment Minister Manjinder Singh Sirsa. The framework aims to create tradable carbon credits and raise funds for environmental conservation. The National Capital Territory of Delhi’s cabinet, led by the CM, has endorsed the implementation of this framework through the Department of Environment, Forests, and Wildlife.
Work is underway to convert the city’s environmental projects into revenue-generating assets to combat pollution and promote sustainability. This move underscores the Delhi government’s dedication to sustainable development and India’s aspirations for achieving net-zero emissions. Drawing inspiration from successful initiatives in Indore, Meghalaya, and Arunachal Pradesh, Delhi is poised to take the lead in carbon markets.
For every verified reduction of one metric tonne of CO2 equivalent resulting from Delhi’s climate initiatives, a tradable carbon credit will be generated. These credits can be sold in voluntary or compliance markets globally. The model, which carries no financial liability, harnesses existing green initiatives in various departments such as Transport, Power, Forests, Delhi Jal Board, and Urban Development to unlock economic value while advancing environmental objectives.
Minister Sirsa highlighted the strategic significance of this framework, emphasizing Delhi’s pioneering efforts in large-scale green transformations. By quantifying and certifying these achievements under global standards like VERRA and the Gold Standard, Delhi aims to monetize them transparently. The generated revenue will further support pollution control and climate mitigation efforts, positioning Delhi as a role model for urban sustainability.
