Summary From India State Climate Investment Forum 2026

This white paper summarizes the discussion from the India State Climate Investment Forum 2026, focusing on the role of carbon markets in enabling Maharashtra to unlock climate investment opportunities and emerge as a global leader in carbon removal solutions. The paper captures insights from the carbon market track of the forum, which brought together governments, investors, financiers, project developers, and ecosystem partners to discuss pathways for scaling climate investments and connecting capital with projects.

As carbon markets evolve, demand is increasingly shifting toward high-integrity carbon assets that demonstrate robust monitoring, reporting, and verification (MRV), long-term durability, and measurable environmental and social co-benefits. The white paper explores this changing landscape and highlights the growing importance of carbon dioxide removal (CDR) within global carbon markets. It examines how Maharashtra can leverage its unique advantages, including its industrial ecosystem, agricultural landscapes, biomass availability, and natural resources, to develop a diverse portfolio of carbon removal solutions.

Maharashtra has significant potential across multiple carbon removal pathways, including soil carbon removal, biochar, biomass carbon removal and storage (BiCRS), bioenergy with carbon capture and storage (BECCS), enhanced rock weathering (ERW), and afforestation and reforestation. The state’s extensive agricultural land, surplus biomass resources, and availability of basalt formations create opportunities to develop scalable carbon removal projects while generating additional value for farmers, communities, and investors.

The paper also highlights the need for enabling infrastructure and policy frameworks to accelerate carbon market development in the state. Key priorities include strengthening data availability, expanding testing and research capabilities, improving MRV infrastructure, developing farmer and community engagement frameworks, and creating financing mechanisms that can reduce early-stage project risks and attract private capital.

Key Takeaways

• Maharashtra is well-positioned to become a major hub for carbon removal solutions by leveraging its industrial capacity, agricultural resources, biomass availability, and natural advantages.
• Global carbon markets are increasingly prioritizing high-integrity credits, making strong MRV systems, transparency, permanence, and measurable co-benefits essential for market participation.
• Scaling carbon markets in Maharashtra will require coordinated action across government, investors, developers, and communities, supported by enabling policies, infrastructure, and financing solutions.
• Carbon removal pathways such as biochar, soil carbon, BECCS, and enhanced rock weathering offer opportunities to combine climate action with agricultural development, rural income generation, and investment growth.
• By building a strong ecosystem for high-integrity carbon projects, Maharashtra can position itself to participate in growing domestic and global demand for carbon removal solutions.