India's greening industries lead in world carbon credit game

India Features

Dec 1, 2007, 12:24 GMT

New Delhi - Two years after the Kyoto Protocol entered into force in 2005, India has emerged as the most active seller of carbon credits worldwide, with many of the country's firms implementing eco- friendly systems of production and going 'green.' Kyoto, an international agreement that for the first time regulates carbon dioxide emissions of industrial nations, provided for a so-called Clean Development Mechanism (CDM) that allows companies which reduce greenhouse gasses to sell their achievement for carbon credits. The credits - called CERs for Carbon Emission Reduction - can be bought by companies in industrialized countries which must reduce their emissions under the protocol. World governments are heading to Bali, Indonesia, in December to discuss what happens after Kyoto expires in 2012. The carbon credit scheme aims to hasten the reduction in greenhouse gas emissions that trap heat under the Earth's atmosphere, and developing countries like India and China that are exempted from the treaty have still seen a rush to invest in cleaner technologies. Biogas effluents or wind-energy are being chosen over traditional electricity by a rapidly growing number of companies which have also found savings in their power bills. According to Environment Secretary Meena Gupta, India accounts for 289 CDM projects out of the 844 registered - or 34 per cent - making it a global market leader. China and Brazil follow with 16 and 13 per cent respectively. 'A number of companies have started taking advantage of such opportunities as they are queuing up in the carbon market,' said Rahul Rai, who manages the renewable energy and carbon credit programme at Rabo India Finance. Projects are mostly in the areas of renewable energy, followed by energy efficiency, industrial processes and municipal solid-waste. Substantial carbon credits are also coming from the infrastructure and power sectors which are thriving in India's fast-growing economy. The carbon trading market tripled to 30 billion dollars in 2006, the World Bank said recently, making India well positioned to play a leading role. Take India's cement industry. It generates 5 per cent of India's total carbon dioxide emission of about 150 million tons every year, but is now eyeing carbon credits in a big way. A study carried out by ACC, India's leading cement maker, says India accounts for 44 out of 76 total CDM cement projects worldwide and would deliver roughly 40 per cent of emission reductions in the sector. In all, India's National CDM Authority has accorded approval to 800 projects, facilitating investment of more than 16 billion dollars in such projects. 'While 300 such projects are still to be cleared by the CDM Executive board, India has generated 29 million carbon credits and would have about 400 million CERs by 2012 allowing firms to earn 6 billion dollars by then,' said Vivek Kumar, a research associate with the Energy Resources Institute (TERI), a New Delhi-based environmental think-tank. However, in terms of volumes, projections say that by 2012, China will lead the Asian market with 45 per cent of the supply market and India will drop to 16 per cent. Chinese projects are on a much larger scale than India's programmes. Nonetheless, even India's large government-run companies, which were apprehensive about the Kyoto Protocol, are entering the fray. The Delhi Metro Rail Corporation has started applying for credits for pushing a shift from buses and cars to trains. The Indian Railways, which runs the most extensive rail network in the world, also wants to get into the game with a new generation of trains run on clean fuel and solar power for lighting. India's largest steel-maker, Steel Authority of India Limited, is applying for 70 projects and hiring consultants. 'We are not looking at incomes but cleaner processes and energy and technological efficiencies,' said Dr V Shastri, chief of the environment division at SAIL. Measures like reforestation could also help reduce poverty in rural areas, according to studies cited in local media that show that villagers in central India's Handia forest reserve could earn 300,000 dollars a year from carbon payments by restoring 24,700 acres of degraded forests. Already, forecasts of a severe winter in Europe has companies in India rubbing their hands at the prospect of new business worth millions of dollars from increased fossil-fuel use in the colder climate. © 2007 dpa - Deutsche Presse-Agentur

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1000 Americans Arrested in Sri LankaDec 1st, 2007 - 17:35:49

I wish I could say 1000 Americans Arrested. Then it would be a important headling on CNN or GOOGLE NEws website. But it was not the case.

Why are we loosing more Tamils in the Hands of Sri Lankan Government.

Why is UN and US Keeping Silent.

Both Cheifs of USA George W Bush and UN Cheif Baki MOON are care less of what happens in Sri Lanka.

The American Government's and UN have in past kept a Blind Eye to What happens to non american people around the world. They don't care of even American black people. So why would you expect them to step in.

American Goverment has been Aiding sri lanka thru two fronts. One thru Pakistan Arms Dealing and Direct thru Sri Lankan Government. They have been wanting the war in Sri Lanka to continue and Kill the people of Northen Region in Sri Lanka for Return of Land to the American Naval Operations.

Pakistan has been contributing because of their pressure from American Government. Pakistan is a warehouse for Weapons trade by American's it is not country that can produce weapons. It can only get free weapons from American or Britan. They do what USA will tell them TODO.

India has no interest in Helping Tamils or Sri Lankan's because they will be loosing their interest to protect their economy. If Sri Lanka becomes a power house then it would eat up India's peice of the pie.

I love the Sri Lanka, the people of Sri Lanka, Sinhala and Tamil. What I don't like the Social and Govermental Injustice done. Thru the help of International Governments.

If Tamils. in sri lanka are not getting help from UN to protect them, then the Tamils in the internation community has the right to sponsor LTTE for any weapons support the defend them from being hit.

In additions, Tamils in Internation community should consider, buying Amry Support from Internation Community to Fight the Sri Lankan government, if UN has not responded the way it has been doing so Far.

Basically Buy or LEase Private Army personally like the US does in IRaq war. I think its a fair game for any one who threaten to kill another race.

If it wasn't for the tamil people of sri lanka, we would not have an identity in the world for a Tamilan to be a Known Race.

I would not want to be called a Tamil Tiger in western world, but atleast that is what is know to the western world when talk of Tamils.

ANy way I hope the people around world will understand that Tamils and Sinhala people are just humans, but the politcal governments are not too kean on doing much to help the Tamils or SInhala population by Bombing the Tamils.

So Lets arrest 1000 american's around the world and then we will know what makes the headlines. I guess it could be americans or canadians it might matter. then again, UN is just a Puppet Show done by Americans , they would care less.

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s.winnDec 2nd, 2007 - 21:31:31

Again, global warming farce. Follow the money.. Trillions could be spent & then, no effect results. Biggest scam ever.

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SL Police R Terrorists - Canada saysDec 4th, 2007 - 03:23:10

The Canada Border Services Agency says it intends to deport Mr. Kasturiarachchi because he was complicit in war crimes.

As a former Sri Lankan police chief, the CBSA says, Mr. Kasturiarachchi is to blame for 'systematic' and 'widespread' abuses committed by the force 'on a regular ongoing basis.'

www.nationalpost.com/most_popular/story.html?id=139962

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