A Jan Van plan could use fintech to democratize carbon trading

Catalyse climate action through mass participation in emission reduction by opening up the market for carbon credits to all

- G.N. BAJPAI & PRAVEEN TIWARI

COP-30 is being held in Brazil, starting on 10 November. India has pledged carbon neutrality by 2070. On 8 October, India’s government notified its Greenhouse Gas Emission Intensity Target (GGEIT) Rules 2025, setting out emission-reduction targets that are legally binding. This marks a significant step towards meeting India’s commitments under the 2015 Paris Agreement.

Meeting national commitments warrants every citizen’s active participation in carbon-reducing endeavours. Innovative thinking and the application of fintech, with builtin financial rewards, could inspire a people's movement to complement government efforts and create a self-sustaining economic stimulus without any subsidy. We argue that a Jan Van programme, combined with the Jan Dhan scheme, can be a game-changer.

The world has become more perilous since Eunice Newton Foote alerted people in 1856 to the warming effect of carbon dioxide (CO2). Recent UN reports highlight some critical points: the planet will be warmer by 2.6° Celsius (against the Paris target of 1.5° Celsius); current national commitments would reduce emissions by only 7.5% by 2030, against 55% needed to meet the 1.5° goal; and renewable energy is an economic opportunity, as it creates jobs and boosts growth.

The results of the government's efforts are discernible. India’s clean-energy capacity through solar, wind, hydro and nuclear power projects has tripled over the past decade to 232 gigawatts (GW) in 2024, nearly 50% of the country’s installed power capacity as of June 2025. The participation of people could support this endeavour.