India Pushes for Enhanced Carbon Market Cooperation at COP30

India Advocates for Joint Crediting Mechanism at COP30

In a significant move at COP30 held in Belem, India has called for the expansion of the Joint Crediting Mechanism as a cooperative framework to fast-track global climate action. The country's representatives emphasized that bilateral models can play a crucial role in strengthening the multilateral objectives set forth in the Paris Agreement.

Promoting a Cooperative Carbon Market Model

Union Environment Minister Bhupender Yadav highlighted this mechanism as a potent strategy for countries to collaboratively develop projects aimed at reducing emissions. Such a model enables partners to mobilize financial resources, deploy cutting-edge technologies, and share credits transparently, presenting a pragmatic pathway towards decarbonisation.

India's Engagement with the JCM Framework

India is one of the 31 partner nations participating in this initiative, which was initially spearheaded by Japan. Earlier this year, India operationalized its first bilateral cooperation under the Paris Agreement through this framework. It aligns with Article 6 provisions, which support the establishment of carbon markets and cooperative mitigation measures.

Supporting National Climate Strategies

Officials noted that the mechanism directly supports India's Nationally Determined Contributions and its long-term low-emission strategy. It is anticipated to aid in localizing high-technology climate solutions, building domestic capacity, and advancing sustainable development goals while simultaneously fostering economic growth.

Examining the Joint Crediting Mechanism

The Joint Crediting Mechanism, initiated by Japan, involves 31 partner countries and operates under Article 6 of the Paris Agreement to facilitate carbon market cooperation. India, having joined in 2025, is leveraging this model to jointly develop mitigation projects and allocate emission-reduction credits.

Call for Scaling Up Bilateral Climate Cooperation

At a recent meeting of partner countries, India urged more nations to adopt the mechanism, aiming to create scalable, technology-driven climate solutions. This appeal comes amidst growing global expectations for equitable and cooperative frameworks capable of addressing rising emissions and supporting the climate priorities of developing nations.