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  • Published: Feb 28th, 2009
  • Category: India
  • Comments: None

Cos dump green projects as carbon credits lose value


| Sourced From The Economic Times |

MUMBAI: Indian corporates are shelving green projects that would have earned them carbon credits, which have seen a 50% fall in value due to the global economic slowdown. Companies are instead focusing on their existing renewable energy plans, which help save costs.

Before the crisis, many companies launched industrial clean development mechanism (CDM) projects, which required substantial investments but earned them carbon emission reduction (CER) units. CER are points issued by the CDM executive board for emission reduction, and verified under the rules of the Kyoto Protocol. These units can be encashed by selling them to polluting units, which are required by the protocol to buy these units.

Renewable energy projects, which use wind, water or biomass energy, usually involve lower costs compared to CDM projects.

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