The Open Network for Carbon Markets (ONCM) is an initiative led by the Centre for Digital Public Goods at the Indian Institute of Management Bangalore, in partnership with Networks for Humanity (NFH), to build an open, interoperable digital infrastructure for carbon markets in India. The initiative is anchored by the CDPG research and implementation team, with Chaitrali Bhoi serving as Project Lead, and Prof. R. Srinivasan providing strategic and academic guidance. Conceived in alignment with India’s forthcoming Carbon Credit Trading System (CCTS), ONCM seeks to enable transparent, efficient, and scalable carbon market transactions through digital public infrastructure principles.
The development of ONCM has been driven through a structured, multi-stakeholder co-creation process with a roundtable convened in March 2026 that brought together regulators, exchanges, and ecosystem participants, followed by a technology position paper sprint on 27th April 2026 at IIM Bangalore. Contributors included organisations such as Tata Consultancy Services, Protean eGov Technologies Ltd., Intellecap, and RenewCred, among others, reflecting a collaborative approach to ecosystem design and governance.
ONCM focuses on leveraging existing digital building blocks while identifying new components required to enable interoperability across registries, marketplaces, verification agencies, and financing institutions. With an emphasis on Beckn protocol-driven architecture, shared infrastructure layers, and clearly defined stakeholder roles, the initiative aims to create a seamless and trusted carbon market ecosystem. Positioned as a population-scale digital public infrastructure, ONCM represents a forward-looking effort to align technology, markets, and climate action—supporting India’s carbon economy while offering a scalable model for global adoption.