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Understanding the Carbon Credits Market: Insights from Chaitanya Kalia of EY India | Climate Clock

by | Jun 26, 2026 | Interviews

About the author

Narasimhan Santhanam (Narsi) is the Co-founder and Director of Energy Alternatives India (EAI), which he established in 2008 as one of India's first boutique cleantech management consulting firms.

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Narasimhan Santhanam

A BTech graduate from IIT Madras and PGDM holder from IIM Calcutta, Narsi has spent over 15 years helping CEOs and senior leadership of Indian and global companies navigate the climate tech landscape. He has consulted for over 200 organisations spanning solar, bio-energy, electric mobility, and green hydrogen, with clients ranging from GE and Bosch to the World Bank and the Bill & Melinda Gates Foundation.

Beyond EAI, Narsi leads several climate initiatives including Climafix, a prominent accelerator platform for India's climate startup ecosystem, CliDemy, a climate education platform, and C3, the world's first industry-led city-focused climate action consortium. He has authored over 25 industry reports, spoken at more than 100 conferences globally, and served on government and industry committees on sustainability. His work sits at the intersection of deep domain expertise, India market knowledge, and a vast network across the cleantech value chain.

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Chaitanya Kala, Partner at EY and National Leader for Climate Change & Sustainability Services, breaks down carbon credits on the Climate Clock Podcast.

Key insights:
Carbon credits convert greenhouse gas reductions into tradable commodities through verified registries.

Markets are either regulatory (like EU ETS) or voluntary, with prices ranging from $1 to over €100 per ton.

India is launching its own carbon market via the Bureau of Energy Efficiency.

Robust monitoring and additionality are critical to preventing greenwashing and double counting.

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