Enhancing the transparency, comparability and linkage of climate actions in India through the Networked Carbon Markets initiative

In order to enhance the transparency and comparability of climate actions, and ultimately facilitate the ‘networking’ of carbon markets, the key objectives of this assignment are:

Describe the details of the PAT and REC schemes and to unbundle the climate change mitigation benefits from other energy and domestic policy benefits and services provided by the programs.

Enhance the transparency and comparability of the PAT and REC schemes in India, by assessing the MV (i.e. the global mitigation benefits) of each of the two programs based on consultations with the relevant stakeholders in India. MV is intended to standardize comparisons across climate actions so a balance has to be struck between tailoring the MV methodology to India’s PAT and REC schemes and ensuring that the outcomes enable comparability with other mitigation actions. For this reason, it will be important to consider the previous work undertaken by the NCM initiative on MV. The MV methodology must also remain fairly easy to update as the mitigation action evolves.

Explore opportunities for linking domestic climate programs in India and potential support from the NCM initiative.

Provide technical inputs to climate transparency.