India, EU Commission hold technical talks on carbon pricing and MRV systems

NEW DELHI: India and the European Commission on Monday discussed continuing technical engagement on recognition of carbon pricing mechanisms and auditing (MRV) systems. Power Secretary Pankaj Agarwal met with Gerassimos Thomas, Director-General for Taxation and Customs Union, European Commission, in New Delhi, the Power Ministry said in a release.

Both sides expressed willingness to continue technical engagement on recognition of carbon pricing mechanisms; monitoring, reporting and verification (MRV) systems; and capacity building. An MRV system is an accounting process that measures climate actions, quantifies GHG emissions, and confirms reductions.

The two sides agreed to strengthen cooperation and continue dialogue on carbon markets, CBAM-related methodologies, and other areas of mutual interest.


Discussions focused on India's carbon market development, the EU's Carbon Border Adjustment Mechanism (CBAM), and opportunities for enhanced technical cooperation.

The secretary highlighted India's progress under the Carbon Credit Trading Scheme (CCTS), including notifying emission intensity reduction targets for 490 industrial units and developing the domestic carbon market.

He also highlighted India's progress in increasing the share of non-fossil sources in its electricity generation capacity, noting that non-fossil sources account for 308 GW of the country's total installed capacity of 558 GW.

The EU side appreciated India's progress in developing its carbon market and shared updates on CBAM implementation.