Business Standard ·
Delhi govt invites bids to monetise carbon credits from green projects
Carbon credits generated through the eligible projects will be monetised through a transparent market mechanism, with the revenue deposited into the Consolidated Fund of the state or a designated acc
The Delhi government has invited proposals to empanel three consultancies or agencies for generating and monetising carbon credits from eligible green initiatives undertaken by the GNCTD, including electric bus operations, tree plantation and waste management.
The Department of Environment, in an e-Request for Proposal (e-RFP) issued on September 15, said the agencies will assess the carbon reduction potential of eco-initiatives implemented by the Delhi government, prepare technical documentation and register eligible projects with recognised carbon standards.
The agencies will also facilitate validation, verification, issuance and trading of carbon credits, according to the tender document.
The carbon credits generated through the eligible projects will be monetised through a transparent market mechanism, with the revenue deposited into the Consolidated Fund of the state or a designated account of the Government of the National Capital Territory of Delhi (GNCTD).
The move follows the Delhi Cabinet's approval in January this year of a "Carbon Credit Monetization Framework" aimed at generating revenue from green initiatives.