Global Carbon Council (GCC), the Global South’s first internationally accredited carbon market program, approved under the ICAO CORSIA scheme and recognized by ICROA, has signed a Memorandum of Understanding (MoU) with the Indian Sugar and Bio-energy Manufacturers Association (ISMA) at COP30 in Belém, Brazil, to strengthen India’s engagement in carbon markets, according to the press release.
The MoU was signed by Dr. Yousef Alhorr, Founding Chairman of GCC, and Gautam Goel, President of ISMA reflecting the commitment of both organizations to sustainable growth, climate action, and high-integrity carbon market participation.
Through this partnership, GCC and ISMA will collaborate on:
-Joint webinars, workshops, and training sessions to increase understanding of global carbon markets and GCC standards.
-Capacity-building for project development, registration, issuance processes, and methodology development tailored for India’s sugar-bioenergy sector.
-Advocacy with Indian regulatory bodies for the adoption of GCC standards and methodologies for Compressed Biogas (CBG), green hydrogen, and other bio-energy projects.
-Capacity building on development of biofuel-specific methodologies and carbon-accounting frameworks suited to Indian feedstock and process conditions.
Facilitating recognition of GCC carbon credits under India’s Carbon Credit Trading Scheme (CCTS) and enabling Host Country Letters of Authorization (HCLOA) for eligible projects.
Speaking at the signing, Dr. Yousef Alhorr said: “We are delighted to partner with ISMA to empower India’s sugar and bio-energy sector in accessing global carbon markets. This MoU will help build local capacity, promote sustainable practices, and enable high-integrity participation in voluntary and Article 6.2 carbon markets.”
Deepak Ballani, Director General, ISMA emphasized: “This collaboration with GCC is a critical step for our members to engage with international carbon markets, adopt best practices, and contribute to India’s climate action targets while enhancing sustainability across the sugar and bio-energy sectors.”
The MoU, effective from 19 November 2025, will guide joint efforts in awareness, capacity building, and promotion of carbon market participation for two years, with provisions for renewal or transition to a definitive agreement.
