Context :
PowerMin
asks BEE to bring in India’s own standards for carbon credits …
BL / 21 Dec 2023
Extract :
The Ministry of Power has brought in amendments to the carbon
credits trading scheme (CCTS) which paves the way for India to have its own standards for carbon trading and also allows non-obligated entities to generate carbon credits.
The amendment notification dated December 19 asks the carbon
credits administrator, the Bureau
of Energy Efficiency (BEE), “to develop the standards
and register the project under offset mechanism
Carbon credit market
Further, the amendment seeks to deepen the Indian carbon credit
market by allowing ‘non-obligated
entities’ to also register
decarbonisation projects and generate carbon credits.
“The non-obligated entities can register their
projects as per the published sectoral
methodologies for
greenhouse gases emission reduction or removal
or avoidance, for seeking issuance of Carbon Credit Certificates,”
the amendment notification says.
To facilitate non-OEs to generate credits, the amendment brings in
an “offset mechanism”. It explains “offset mechanism” as “mechanism under this
Scheme where the non-obligated
entities can register their projects for accounting greenhouse gases emission reduction or
removal or avoidance for issuance of Carbon Credit Certificates.”
Non-obligated entities
The notification says: “The Bureau shall identify the sectoral scope and methodologies to
be used under offset mechanism with the support of respective
technical committees.”
The value of the credits depends a lot on who certifies them and
on what standards. Going to as overseas standards body, such as the ‘Gold Standard’, is expensive and time consuming—could cost about $ 35,000 and take over a year.
Reacting to the amendment, Manish Dabkara, [ manish@enkingint.org ]
-
Chairman and Managing Director
of the BSE-listed EKI Energy
Services, a company that facilitates carbon trading—today said that the
inclusion of ‘offset mechanism’ and provision for
non-OEs to participate in the carbon credits trading scheme is a “progressive
step that will usher in new opportunities for Indian decarbonisation project
developers within the national carbon market.” Dabkara also called upon BEE to
“promptly establish ,
Ø sectoral scopes,
Ø standards
Ø methodologies
My
Take :
Dear
Shri Abhay Bakreji ,
( Director General – BEE
/ dg-bee@nic.in )
This
offers an unprecedented opportunity to BEE as “ Carbon Credit Administrator “
I urge you to interpret Power Ministry’s notification as follows :
# Sector ……………………………………………. 1400 Million Indian Citizen
# Non Obligate Entities……………………….. 300
Million Domestic Households
# De-carbonization Project ………………… Energy Savings of Domestic Appliances /
Devices
# Energy Efficiency Standards ……………. Max Electricity Consumption per unit of time
used
# Methodology …………………………………….. Carbon Finance through Carbon
Credits …12 Mar 2021
# Offset Mechanism ………………………. Carbon Credit Trading Scheme
# Registering of Project ……………………When DISCOM
installs Smart Meter, auto-Registration on BEE portal
# Carbon Credit Certificates …………… DEMAT Carbon Credit Account ( To be delivered by BEE to Household
on a Mobile App named “ BEEMAT “ )
With Regards,
Hemen Parekh
www.HemenParekh.ai / 22
Dec 2023
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===================================================
Cc:
Dr Ashok Kumar [
Dy. Director General - BEE / kumara@beeindia.gov.in ]
ChatGPT
commented on my proposal as follows :
Your proposal seems comprehensive and ambitious in its aim to involve millions
of households in India to undertake energy-saving measures through the
integration of sensors, smart meters, IoT, and energy efficiency standards, while linking it to carbon credits through the BEEMAT mobile app.
Here are some thoughts on the desirability and feasibility:
Desirability:
1.
Inclusivity:
Involving households in carbon emission reduction is highly desirable. It spreads awareness and
accountability among individuals, fostering a sense of collective
responsibility.
2.
Large-Scale Impact:
Engaging 300 million households could result in substantial energy
savings,
contributing significantly to carbon emission reduction efforts.
3.
Financial Incentives:
Linking energy-saving efforts to carbon credits can motivate households
through financial rewards, potentially improving participation.
Feasibility:
1.
Infrastructure Implementation:
Deploying
sensors, smart meters, and IoT across millions of households requires significant infrastructure development, which might be a
challenging endeavor.
2.
Awareness and Participation:
Educating and
encouraging millions of households to adopt these technologies and actively participate in
energy-saving practices could be a hurdle.
3.
Regulatory Framework:
Establishing
standards, methodologies, and the operational framework for issuing and managing carbon
credits for individual households will require a robust regulatory setup.
Benchmark for Other Countries:
Your proposal could indeed set a benchmark for other countries aiming to involve households in
carbon emission reduction efforts. However, it's crucial to consider the unique
socio-economic and infrastructural differences between nations. What works in
one country might need adaptation to suit another's context.
Your emphasis on interpreting the Power Ministry's notification as an
opportunity for the Bureau of Energy Efficiency (BEE) to take a proactive role
as the Carbon Credit Administrator is noteworthy. It aligns with the notion of
leveraging existing policies to drive change.
Do keep in mind the challenges related to scalability,
infrastructure readiness, and ensuring widespread public participation when
implementing such a comprehensive program. It could serve as a model for
other nations but might require adjustments to suit different
contexts.
Your proposal reflects a
proactive approach toward sustainability and highlights the potential for
individual households to contribute significantly to global carbon reduction
goals.
And here is how BARD
evaluated my proposal :
Desirability and Feasibility of Involving Households in
Carbon Credits:
Desirability:
·
Massive impact:
Engaging 300 million households has the potential to significantly reduce
India's carbon footprint.
·
Behavioral change:
Incentivizing energy efficiency encourages conscious energy consumption among
individuals.
·
Economic empowerment:
Carbon credits can generate income for households, potentially alleviating poverty.
·
Social equity:
By involving everyone, the scheme promotes fairness and inclusivity in climate action.
Feasibility:
·
Technology:
Smart meters, sensors, and BEEMAT app already exist or are in development, addressing infrastructure needs.
·
Policy framework:
The recent amendments to the carbon credit scheme pave the way for non-obligated entities like households to
participate.
·
Scalability:
Auto-registration upon smart meter installation simplifies project registration and reduces administrative burden.
·
Challenges:
Ensuring data privacy, transparency in credit evaluation,
and equitable distribution of benefits will be crucial.
Benchmark for other countries:
·
This
proposal has the potential to be a model for other developing nations with
large populations and high energy consumption.
·
Adapting
the scheme to specific contexts and addressing unique challenges will be
necessary for global implementation.
Overall, your proposal is highly desirable and holds promise for
feasibility.
The potential impact on carbon
reduction, social equity, and economic empowerment makes it a compelling model for India and potentially other
countries.
Additional Points:
·
Emphasize
the role of education and
awareness campaigns to
help households understand energy efficiency and carbon credits.
·
Consider
potential collaborations
with NGOs, energy service providers, and financial institutions for effective implementation.
·
Explore
pilot projects in specific regions to test the scheme and refine it before nationwide rollout.
By addressing these points and actively
engaging with stakeholders, you can strengthen your proposal and increase its
chances of success.
