Delhi govt invites bids to monetise carbon credits from green projects

New Delhi, Sep 16 (PTI) The Delhi government has invited proposals to empanel three consultancies or agencies for generating and monetising carbon credits from eligible green initiatives undertaken by the GNCTD, including electric bus operations, tree plantation and waste management.

The Department of Environment, in an e-Request for Proposal (e-RFP) issued on September 15, said the agencies will assess the carbon reduction potential of eco-initiatives implemented by the Delhi government, prepare technical documentation and register eligible projects with recognised carbon standards.

The agencies will also facilitate validation, verification, issuance and trading of carbon credits, according to the tender document.

The carbon credits generated

through the eligible projects will be monetised through a transparent market mechanism, with the revenue deposited into the Consolidated Fund of the state or a designated account of the Government of the National Capital Territory of Delhi (GNCTD).

The move follows the Delhi Cabinet’s approval in January this year of a “Carbon Credit Monetization Framework” aimed at generating revenue from green initiatives.

According to the RFP, Delhi’s greenhouse gas emissions are predominantly driven by the energy sector, followed by transport, industry, waste and residential and commercial buildings.

It identifies renewable energy, energy efficiency, sustainable transport, improved waste management and circular economy initiatives as areas with potential for emission reduction and carbon-credit generation.

Preliminary assessments cited in the document indicate that Delhi could potentially achieve emission reductions of around 25-30 million tonnes of carbon dioxide equivalent annually in the medium term, though the RFP describes the estimate as indicative.

The government said systematic carbon accounting, monitoring, reporting and verification mechanisms, and market-linked monetisation mechanisms have yet to be fully operationalised at the city level.

The selected agencies will initially be empanelled for three years.

The empanelment process will have pre-qualification and technical and financial evaluations, and final empanelment stages. Bidders securing at least 80 marks in the technical evaluation will qualify for financial evaluation.

The department will empanel the lowest-quoted bidder and two other technically qualified bidders willing to match the lowest quote.

The last date for submission of bids is four weeks from the date of issuance of the RFP, while the pre-bid conference is scheduled for September 30.

The department has invited eligible consultancies and agencies to participate through the e-procurement portal. PTI AHD AHD AMJ AMJ