Researchers have discovered that Delhi's urban forests are significant carbon sinks, storing substantial amounts of carbon in trees and soil, with the potential to generate revenue through carbon credits. The study highlights the importance of preserving and expanding these forests to combat climate change.
Deepak Asher, VP-corporate finance at Gujarat Flourochemicals, says that their carbon credit contract could be worth over Rs 1,000 crore (Rs 10 billion).\n
Indian companies are set to benefit from carbon credits in a big way.
According to the Kyoto protocol, one carbon credit can be earned by reducing a tonne carbon dioxide. One carbon credit is worth $10 as per the UN Framework Convention on Climate Change (UNFCC) guidelines.
When green house gas emissions began to shoot through the roof an innovative solution was found by introducing the concept of carbon credits. If you pollute you have to buy carbon credits which add to the company's operational expenses or cut emissions and create carbon credits that can be sold.
In mid-May, the European Commission released 2009 data showing carbon emission in the region had fallen 11 per cent over last year, to 1.873 billion tonnes.
ArcelorMittal, the world's largest steel maker, will benefit from a windfall of 1 billion (Rs 7,000 crore), thanks to the carbon credits issued to it under the European Trading Scheme. The Sunday Times today reported that ArcelorMittal will be the single largest beneficiary under the ETS due to its dominant presence in Europe.
India Inc sells a third of carbon credits to middlemen at low rates.
India's commodity bourses -- Multi-Commodity Exchange and National Commodity and Derivatives Exchange -- are gearing up to launch futures trading in carbon credits.
After a prolonged slide, the price of each well below a euro, a 95% fall in 4 years, with no relief in sight.
Although India is the second largest generator of environment-friendly projects, domestic firms, public and private, are shying away from maximising the monetary benefits derived from such carbon emission reductions. The country, which is second only to China in terms of generating of carbon credits through the introduction of low polluting technologies, ranks very low when it comes to encashing of these credits through carbon trading.
Maruti Suzuki is the latest auto major in the country preparing for trading in carbon credits.
India's JSW Steel has been awarded more than 5.4 million carbon credits, including four million carbon credits in the single largest issuance of emissions permits to a Kyoto Protocol project, by the United Nations.
The company's statement comes amid reports that the steel tycoon will get a one billion pound windfall from a European scheme to curb global warming, if it chooses to sell its excess carbon credits.
A recent report by Barclays Capital, the global consultancy firm, forecast the Certified Emission Reduction price to surge 92 per cent in the first half of this year.
The number of carbon credits or certified emission reduction (CERs) issued for a cut in the release of greenhouse gases into the environment is set to triple in India over the next three years, due to a rising number of claims from rapidly growing renewable energy (RE) projects.
So how do you trade in carbon? Who can trade and at what price? Joseph Massey, Deputy Managing Director, MCX, tells it all.
The Dell 15 (2026) enters the Indian market with an introductory price of 69,699 for the entry-level model, which includes 8 GB memory and a 512 GB SSD.
OnePlus Nord 6 for cool colours and a hot battery.
Even as developing nations gear up for a big boom in carbon market, several projects registered with the UN carbon market regulator have drawn flak from various quarters.
The matter has now been escalated and the ministry has written to Customs, Bureau of Indian Standards (BIS) and the Directorate of Revenue Intelligence (DRI) to investigate it thoroughly.
India's new climate pledge to the UN could be weakened by its growing use of coal, even as the country plans a 2035 roadmap to cut emissions and boost clean energy.
In a significant development, India's National Commodity & Derivatives Exchange Limited on Thursday launched its futures contract for Certified Emission Reduction. Forward Markets Commission, chairman, B. C. Khatua inaugurated the launch at NCDEX Exchange Platform. The CER contract of NCDEX will be traded in multiples of one lot of 500 CERs each.
A deep split has emerged within India's auto industry over the proposed CAFE exemption for small cars, with only Maruti Suzuki and Renault backing the move in the final SIAM vote.
EV manufacturers point out that converting a regular petrol car into a flex-fuel vehicle requires only about Rs 17,000-25,000 per unit, whereas developing an EV demands vastly greater investments in research, battery development, and localisation.
Maruti Suzuki, India's largest producer of small cars, stands to benefit the most.
Department has decided to keep a tab on the trade by putting its intelligence wing on the job.
Carbon credits are a tradable permit scheme. They provide a way to reduce greenhouse gas emissions by giving them a monetary value.
The Supreme Court acknowledged a clean chit from a special investigation team (SIT) regarding the Vantara zoological rescue and rehabilitation centre in Gujarat's Jamnagar, following allegations of irregularities.
'CORSIA has set impossible targets. It tries to limit countries to the emission levels of the number of aircraft that they had in 2020. That has to be opposed.'
Four big global companies - Bayer, GenZero (a wholly-owned arm of financial major Temasek), Shell and Mitsubishi - have decided to scale up their carbon credit programme in nine states to empower farmers. The credits are generated through the adoption of smart agriculture practices - Alternate Wetting and Drying (AWD) and Direct Seeded Rice (DSR). Since over a year, the project, which was being run on a pilot basis, has positively impacted 10,000 farmers, covering more than 25,000 hectares.
The National CDM Authority in India has accorded Host Country Approval to 1,455 projects. These projects have seen an investment of more than $33.7 billion(Rs 1.6 lakh crore).
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
Dr Sonali Ghosh, the first woman to head the Kaziranga National Park and the first Indian to win the IUCN's Kenton Miller Award, has turned her childhood love for nature into an inspiring career in wildlife protection and leadership.
While long term solution depends on each one of us altering our consumption patterns, the future depends on next generation technologists and entrepreneurs creating business models that naturally reduce the green house gas emissions.
This carbon credit system is expected to generate greater financial viability for regional operators.
A group of 91 retired bureaucrats has appealed to the Centre to withdraw the Green Credits programme, which they claimed may facilitate diversion of forest land to private entities. "Quick, smooth and easy diversion of our forest lands in favour of user agencies is apparently the sole intention of this set of Green Credits rules. "We urge the MOEFCC to recognise this danger and withdraw the Green Credits notification expeditiously," the group of former civil servants wrote in an open letter to the Ministry of Environment, Forest and Climate Change (MoEFCC).
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