In recent years, climate protection has gained momentum in India, although efforts to pursue climate change mitigation still face certain obstacles. The Global Carbon Market project provides support to the climate change department of the Indian Environment Ministry concerning market mechanisms and other forms of cooperation under the Paris Agreement, as well as on climate finance. Under the project, expert workshops and other technical events are organized to involve the private sector in the development of climate finance instruments. Here, the focus is placed on corporate social responsibility activities and internal carbon pricing. The project team also advises the Ministry on new market mechanisms, on national, regional and local climate action plans, and on UNFCCC negotiations.
The project is closely aligned with the National Action Plan on Climate Change (NAPCC) and the targets under India’s NDC. By providing advice and support to its partners through feasibility studies, market analyses, dialogue forums, specialist events and capacity development support, the project contributes to the debate on and development of market mechanisms in India under Article 6 of the Paris Agreement. A further focus is on the development of climate finance instruments which help to "leverage" private investment through public sector funding. As part of the Global Carbon Market project, strategic carbon market alliances are being pursued with other actors in India. These include the Partnership for Market Readiness (PMR), the Transformative Carbon Asset Facility (TCAF), the Energy Resources Institute, Energy Efficiency Services Limited, the World Resources Institute (WRI) and the Carbon Disclosure Project (CDP) India.