On 12 and 14 November 2024, the Indo-German Chamber of Commerce (IGCC) conducted its first workshop on ‘Carbon Accounting in line with CBAM’. The 2-day virtual event in partnership with KarbonWise aimed to support and prepare companies in India to assess and measure their carbon footprint.
With global climate commitments gaining momentum, corporations must not only comply with regulations but also proactively contribute to a sustainable future. Regulatory frameworks such as the EU's Carbon Border Adjustment Mechanism (CBAM) and India's carbon market are reshaping the business landscape. In parallel, large brands impose requirements for low-emission production at the core of their business relationships with suppliers. To successfully comply with regulations and to ensure the long-term growth of business relationships, accurate carbon accounting and emissions tracking are essential for businesses.
The workshop was designed after consultations with IGCC member companies and partners, with the purpose of equipping industry professionals in India with a heightened understanding and knowledge of carbon accounting methodologies in line with internationally recognised standards.
The workshop was divided into two sessions and led by industry experts. In the first session, the workshop tackled the fundamentals of carbon accounting and the GHG Protocol, including its principles and methodologies for emission calculation. The first session aimed to introduce concepts and provide an understanding of the steps involved in beginning the carbon calculation journey. In the second session, the workshop delved into the EU’s Carbon Border Adjustment Mechanism and its impact on Indian exporters through expectations placed by European buyers. It explored the intersection of organisation-wide carbon footprint in the context of CBAM requirements, providing approaches for quantifying emissions under its framework. Both sessions used interactive exercises and group discussions to ensure a practical dimension to the sessions, with active participation from around 20 professionals.
The workshop not only provided participants with valuable knowledge but also fostered meaningful discussions on the on-the-ground challenges and opportunities associated with carbon accounting in the Indian context. Attendees were left with actionable insights and practical tools to initiate or enhance their carbon accounting strategies, ensuring they were better equipped to meet international expectations and navigate evolving sustainability regulations.
IGCC is committed to supporting companies on their sustainability journey and offers customised training sessions, along with a range of support services. For inquiries regarding carbon accounting queries, information about member events, and solutions write to sustainmarkets(at)indo-german.com
