SRINAGAR, September 26, 2026 – The Jammu and Kashmir administration is actively exploring avenues to monetize its vast ecological assets by tapping into global carbon markets and green financing opportunities. In a high-level meeting chaired by Chief Secretary Atal Dulloo on Friday, officials reviewed the newly proposed Carbon Credit Framework for the Union Territory. Presented by the Centre for Innovation and Transformation in Governance (CITaG) in collaboration with the Finance Department, the framework is strategically built upon four core pillars comprising carbon markets, a green cess, programmatic convergence, and the establishment of a dedicated Green Fund. Recognizing the untapped potential of the region’s environmental initiatives, the Chief Secretary directed CITaG to draft a comprehensive policy document supported by robust Standard Operating Procedures (SOPs) for seamless implementation across all relevant departments. To ensure effective execution, he further instructed the organization of specialized capacity-building workshops designed to familiarize government officers with global carbon accounting mechanisms, stringent data standards, and their precise implementation responsibilities.
Emphasizing the need for transparency and technology-driven oversight, Chief Secretary Dulloo suggested forging a collaboration with the Bhaskaracharya National Institute for Space Applications and Geo-informatics (BISAG-N) to develop an integrated digital monitoring platform and a secure carbon registry. During the deliberations, Additional Chief Secretary of Finance, Shailendra Kumar, highlighted the immense revenue-generating potential of J&K’s agriculture, hydropower, and forestry sectors, urging officials to prioritize these areas for green investments. Furthermore, he pointed out emerging opportunities stemming from rooftop solar installations under the PM Surya Ghar Yojana and the increasing adoption of electric vehicles across the Union Territory. Kumar advocated for the early operationalization of the J&K Green Fund, which would pool carbon proceeds and other green revenues to sustainably finance future climate-resilient development initiatives. The meeting also noted that despite substantial investments in environmentally sustainable activities, J&K has not yet generated revenue from global carbon markets, unlike entities such as the Brihanmumbai Municipal Corporation (BMC) and the state of Gujarat, which have earned ₹27 crore and ₹22 crore respectively through similar monetization efforts.
The proposed framework outlines an innovative revenue-sharing mechanism designed to directly benefit local stakeholders. Under this model, 35 percent of net carbon proceeds would be allocated to primary growers or community project owners, 30 percent to the J&K Green Fund, 15 percent to Farmer Producer Organizations (FPOs) and aggregators, and the remaining 20 percent equally divided between district-level climate initiatives and sector-specific sustainability accounts. Officials also discussed the introduction of a Green Tourism Contribution aimed at mobilizing resources for environmental conservation at major tourist destinations. To ensure rapid execution, a 180-day implementation roadmap has been proposed, which involves creating a comprehensive inventory of green assets and launching five to seven priority pilot projects across the Jammu and Srinagar Municipal Corporations, as well as the agriculture and forestry sectors. This strategic pivot is expected to transform J&K’s climate-positive investments into measurable, long-term economic returns for both local communities and the Union Territory’s exchequer.
Published by True Roots Media Network