Green projects can net India $6.15 bn by 2012
January 19th, 2010 - 5:53 pm ICT by IANSNew Delhi, Jan 19 (IANS) The national authority for Clean Development Mechanism (CDM) projects has so far approved 1,467 projects, which, if approved by its international counterpart, can net India $6.15 billion by 2012, an official spokesperson said here Tuesday.
CDM projects are carried out by developing countries to reduce carbon emissions into the atmosphere in some way — such as saving energy or replacing a thermal by a hydel power plant. The carbon emissions saved are paid for by developed countries, which are legally obliged under the Kyoto Protocol to reduce their emissions.
The international CDM Executive Board has so far approved 469 of the projects recommended by its Indian counterpart, making India the world’s second largest CDM market after China.
The spokesperson pointed out that though India does not have any legal obligation to reduce carbon emissions under the Kyoto Protocol, if all the CDM projects are approved by the executive board it will reduce 615 million metric tonnes of carbon dioxide emissions by 2012.
India accounts for 3-4 percent of global greenhouse gas emissions. These emissions are leading to climate change, which is affecting farm output, making droughts, floods and storms more severe and more frequent and raising the sea level.
- India to be hit by collapse of carbon trading market - Dec 07, 2011
- The Climate Change Terminology (To go with Curtain Raiser) - Nov 27, 2011
- Climate summit looks at weak deal - Nov 30, 2011
- Delhi Metro gets UN certificate for reducing pollution - Sep 25, 2011
- Reliance Power's Tilaiya project gets approval for carbon credits - Oct 03, 2011
- Reliance Power total income rises 124 percent in 2011-12 - May 27, 2011
- Ramesh suggests "aggressive damage control" to deal with Japan's stance - Dec 05, 2010
- Canada pulls out of Kyoto accord - Dec 13, 2011
- At Durban, Kyoto Protocol gets extension - Dec 11, 2011
- India fully committed to Kyoto Protocol: Jairam Ramesh - Dec 01, 2010
- UN says Canada's withdrawal from Kyoto Protocol 'regrettable' - Dec 14, 2011
- India to push for Kyoto Protocol's extension - Sep 15, 2011
- Global carbon emissions up 50 percent - Dec 05, 2011
- Differences continue in Durban, China offers conditional deal - Dec 05, 2011
- Himachal project to get carbon credit in first for India on public land - Oct 31, 2011
Tags: bn, carbon dioxide emissions, carbon emissions, clean development mechanism, climate change, developed countries, droughts floods, global greenhouse, greenhouse gas emissions, hydel power, indian counterpart, international counterpart, jan 19, kyoto protocol, legal obligation, metric tonnes, power plant, saving energy, sea level, spokesperson