International Conference on Carbon Credits
Need for cleaner technologies
Thomex.com
As the global economy expands and industrial productions assumes greater bearing on climate change, an International Conference on Carbon Credits turned out be a much needed stimulant for Indian industries here on Friday. Organised by the Confederation of Indian Industry in New Delhi, the conference was attended by a large number of Indian and foreign delegates.The conference apart from providing a platform to global environmental stewards to discuss the pressing issues of climate change also proved to a meeting point for learning, sharing experience and business opportunities.The meeting discussed various issues related to Indian industries, new technologies, emissions trading and carbon abatement solutions and was attended by decision makers and industry experts.Speaking on the occasion Surender Mehta, Senior Vice President, RRB Energy said, "In India, the participation in carbon trading is not very encouraging because of hosts of factors ranging from absence of big financial players like banks and mutual funds, relative lack of awareness among corporate and stakeholders and unavailability of skilled manpower."Throwing light on the carbon market size, Rajesh Srivastava, Managing Director, Rabo India Finance said, "It was 40 billion Euros in 2007 which is likely to grow up to 60-70 billion Euros in 2008". Speaking on Kyoto Protocol which comes to an end in 2012, Srivastava gave an insight on the various problems in continuing it further which included low participation from various countries, complex processes and prolonged time in processing of applications.Sharing his perspective on the upcoming trends in Carbon Trading as well as its contribution to the exchequer, Amitabh Nangia, Chairman, CII UP State Council & Director, Tricolite Electricals said, "India has cornered nearly 43% of the Certified Emission Reductions (CERs) issued so far by the CDM executive board, the highest international body under the Kyoto Protocol to register projects and issue credits"According to Nangia, under the Kyoto Protocol, governments and companies in the European Union can use these credits to offset their carbon emissions and meet part of their reduction targets. Carbon credits are generated mainly in the developing countries because of the lower project cost.Salil Singhal, Chairman CII Northern Region shared his concerns about the challenges which come in the way of leveraging this huge opportunity. He said, "The Indian Government has taken a stand in global fora that developmental issues and concerns should be integrated into climate change framework.The conference had an elaborate discussion on Pricing & Trading carbon credits including emerging carbon trading strategies, Role of and opportunities in the voluntary market, Mainstreaming CDM projects in India and future of the Carbon market.Some of the experts who attended the conference included Ashutosh Pandey, Head - CDM Practice (Emergent Ventures); Mark Runacres, Senior Visiting Fellow, TERI (Director, Sheffield Vermark); Saurabh Kumar, Secretary Bureau of Energy Efficiency, Government of India; Charles Cormier, Senior Carbon Specialist South Asia, The World Bank; S C Dangayach, Director - Projects, Steel Authority of India and others.
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