Delhi launches tender to monetise carbon credits from green initiatives

Delhi's Department of Environment has issued an e-Request for Proposal to empanel up to three agencies tasked with assessing and monetising carbon credits from the government's green initiatives. The tender, released on September 15, seeks consultancies to evaluate the carbon reduction potential of eco-projects implemented across the National Capital Territory, spanning electric bus fleets, afforestation programmes and waste management systems.

The selected agencies will be responsible for preparing technical documentation and registering eligible projects with internationally recognised carbon standards bodies. They will also oversee the validation, verification, issuance and trading of carbon credits generated through these initiatives, according to the tender specifications.

Revenue generated from the sale of carbon credits will be channelled into Delhi's Consolidated Fund or a designated government account through transparent market mechanisms. The initiative represents an effort by the Delhi administration to extract financial value from its environmental investments while contributing to climate action goals.

The move aligns with growing efforts across India's major cities to leverage carbon markets as a funding mechanism for sustainability projects. Carbon credits are tradeable certificates representing reductions in greenhouse gas emissions, with increasing global demand from corporations seeking to offset their carbon footprints.