Blended finance. DFI relationships. Carbon market access.
The single largest barrier to CCUS deployment in India is not technical feasibility — it is the cost of capital. A post-combustion capture system on an Indian steel mill may be technically proven, but if the financing cost is 14% per annum rather than the 6% available to a European competitor, the economics collapse. Closing this gap requires more than identifying projects: it requires structuring complex blended finance transactions that combine concessional DFI capital, viability gap funding, carbon credit revenue, and commercial equity in a way that delivers the risk-adjusted return each investor class requires.
NCM's Finance & Investment team has structured blended finance transactions for climate infrastructure projects across Asia and has established working relationships with every major multilateral development bank active in India — IFC, ADB, GCF, AIIB, and EIB. We understand what each institution requires for a project to reach credit committee, and we structure CCUS transactions from day one to satisfy those requirements — not as an afterthought when a project reaches a funding impasse.
We are equally active in India's emerging voluntary carbon market and the developing compliance carbon framework. Our carbon credit monetisation advisory service helps Indian CCUS projects register, verify, and sell carbon credits under Article 6 of the Paris Agreement and established voluntary standards — adding a revenue stream that meaningfully improves project economics and accelerates financial close.
We do not simply introduce clients to a list of DFIs. We manage these relationships as a core business function — understanding each institution's current lending priorities, credit appetite, and internal approval processes.
The EU's Carbon Border Adjustment Mechanism represents a fundamental shift in the economics of Indian industrial exports to Europe. From 2026, Indian steel, cement, chemicals, and aluminium exporters face a carbon cost liability that grows with every tonne of unabated CO₂ embedded in their products. For a major Indian steel exporter selling two million tonnes per year to European buyers, the CBAM liability by 2030 could exceed USD 200 million annually — a number large enough to justify significant CCUS capital investment on commercial grounds alone, without any subsidy.
NCM's finance team structures CCUS investment cases that quantify the CBAM liability, demonstrate how CCUS abatement reduces that liability year by year, and show how the combination of CBAM savings, carbon credit revenue, and DFI concessional finance produces a commercial return on CCUS investment even at current Indian financing costs. This CBAM-anchored finance case is the most powerful tool available for moving Indian industrial boards from awareness to decision.
We also work with Indian exporters on CBAM documentation compliance — ensuring that CCUS abatement is properly recorded, verified, and reported in the format required by EU CBAM authorities, so that every tonne captured translates into a verifiable reduction in CBAM liability.
CBAM full transition phase begins — carbon costs apply to Indian exports
Per tonne CO₂ cost trajectory through the 2030s under current EU ETS projections
Indian sectors directly exposed — steel, cement, chemicals, aluminium, power
Total CCUS investment opportunity we are working to unlock for India by 2050
Whether you are a government body seeking policy advice, an industrial company facing CBAM exposure, or an investor seeking CCUS project opportunities — our team is ready to engage.