Tamil Nadu Green Climate Company
At a Glance
Industry
Government/Public Administration
Project Types
Data Analysis, Food and Agriculture, Goals/Targets
Year
2024
Location
Chennai, Tamil Nadu
Summary
Sanjena developed a framework for TNGCC to generate carbon credits from blue carbon projects and solar projects along Tamil Nadu's 1076 km coastline and proposes policy recommendations for entering both Indian and international carbon markets through programs such as the Green Credit Program and registries such as Verra and Gold Standard.Goals
TNGCC aims to establish a "Blue Carbon Agency" to capitalize on blue carbon credits along its coastline. With India's launch of the Carbon Credit Trading System (CCTS) and Green Credit Program (GCP), TNGCC could become the first state-affiliated entity in the carbon market. This project focuses on harnessing revenue from carbon credits tied to TNGCC's initiatives. The objective is to identify projects with carbon credit potential while emphasizing their socio-environmental benefits. It also sets the groundwork for TNGCC to contribute to both India's and international voluntary carbon markets.Solutions
Sanjena tackled the project through a four-part process:
1. Literature Review: She reviewed public notifications on Indian carbon markets, such as the CCTS, GCP, and international trading mechanisms under the Paris Agreement.
2. Project Identification: Three key projects were identified for carbon credit potential: Mangrove Afforestation in Pichavaram, Seagrass Restoration along Tamil Nadu's coast, and Solar PV installations in three climate-smart villages: Killai, Kodiyakarai, and Muthupet.
3. Framework Development: Detailed frameworks were created using international methodologies to estimate CO2 sequestration for mangroves and seagrass and emissions avoided by solar installations. This included a project-wise breakdown of potential credits and revenue.
4. Policy Recommendations: Sanjena evaluated pathways for TNGCC to participate in the Indian carbon market via the GCP and in international markets through registries such as Verra and Gold Standard.Potential Impact
Sanjena's project has two key impacts:
1. Carbon Credit Potential: Sanjena's comprehensive financial and carbon credits assessment for the projects' mangrove afforestation, seagrass restoration, and solar PV installations highlight the potential revenue these projects could generate from carbon credits, making them not only environmentally significant but also economically viable.
2. Registration Strategy: Given the evolving nature of India's carbon programs, Sanjena recommended that the projects be registered in international carbon markets. Specifically, she advised using Verra's VM0033 methodology for the mangrove and seagrass projects, and the Gold Standard AMS-I.F. framework for the solar projects, which could maximize their global market potential.
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