ITANAGAR, 15 Jul: The state government has designated the Hydro Power Development Corporation of Arunachal Pradesh Limited (HPDCAPL) as the executing agency for implementation of carbon credit projects in the state, according to an official release.
As per the government order, the release said, the Department of Environment, Forest & Climate Change (DoEF&CC) will serve as the administrative department for all carbon credit-related initiatives in the state, while HPDCAPL will function as the nodal implementing agency responsible for translating approved projects into market-ready carbon assets.
The HPDCAPL will identify, formulate, develop and implement carbon credit projects across a wide range of sectors, including renewable energy, forestry, solid waste management, methane emission reduction and other eligible sectors approved by the government, the release said.
The corporation will also coordinate with concerned departments, technical institutions and project developers to facilitate project registration, validation, verification, certification, monitoring and issuance of carbon credits in accordance with nationally and internationally accepted standards, it said.
It further stated that the HPDCAPL will oversee carbon credit projects under both the Compliance Carbon Market and the Voluntary Carbon Market, ensuring that the state is well positioned to benefit from all recognised carbon trading mechanisms.
According to the release, the integrated approach is expected to create opportunities for climate finance, encourage sustainable development and generate long-term environmental and economic benefits for Arunachal Pradesh.
“Carbon credits have emerged as an important instrument in the global fight against climate change. They represent verified reductions or removals of greenhouse gas emissions that can be traded in regulated or voluntary markets.”
“As governments and businesses across the world intensify efforts to reduce their carbon footprint and achieve net-zero emissions, the demand for high-quality carbon credits continues to grow,” the release said.
It added: “For a resource-rich and environmentally significant state like Arunachal Pradesh, the carbon market presents a unique opportunity to conserve natural ecosystems while attracting investment and generating additional revenue through sustainable development initiatives.”
HPDCAPL has already established itself as a pioneer in this field.
The corporation became the first organisation from Arunachal Pradesh to successfully register a project with the Universal Carbon Registry through its Sumbachu Small Hydroelectric Project, marking the state’s entry into the international carbon credit ecosystem, the release added.
