Abstract
Carbon instruments are vital for decarbonising the global economy, especially for developing countries that require climate finance and investments in green technologies. Currently, 75 carbon market instruments cover 24% of global emissions, with carbon credits enabling entities to offset emissions by investing in climate mitigation projects. Forest-based carbon credits have dominated the market in terms of value and volume in 2022 and 2023. However, the credibility of these credits is contingent upon their quality, assessed through criteria such as additionality, transparency, leakage, permanence, and integrity. Recently, concerns about legitimacy and greenwashing have emerged. This study aims to verify the legitimacy of forest carbon credits in India, focusing on their actual contributions to conservation and identifying instances of greenwashing. It analyzed projects registered on carbon registries and verified by leading organizations. By employing Geographic Information Systems (GIS) and remote sensing techniques, the research assessed changes in forest cover and computed vegetation indices like the Normalized Difference Vegetation Index (NDVI) to quantify carbon sequestration. Temporal analysis was conducted to track forest cover changes throughout the lifecycle of these projects. Moreover, the research contextualized India’s role in the global carbon market, with particular emphasis on the forest sector. By integrating advanced spatial analysis techniques, this study addresses gaps in existing literature, enhances transparency, and verifies the authenticity of carbon credits. Ultimately, it seeks to inform policy discussions and promote stricter verification methods in the carbon credit market.
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
Economic, Social, and Cultural Context
KEYWORDS
Carbon Credits, Forestry Land-use, Greenwashing, GIS, Carbon Sequestration
