Carbon Offsets Daily

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  • Published: Dec 27th, 2008
  • Category: Asia
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India too may have to reduce carbon emissions

| Sourced From DNA |

While the global recession has brought down the prices of carbon credits, the United Nations climate change summit in Poznan (Poland) recently discussed the future of the Kyoto Protocol.

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Carbon Credit Biz Feels Meltdown Heat

NEW DELHI: With developed economies staring at a recession, talks of the global financial meltdown forcing climate change negotiations into a freeze have gained ground.
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SCC Raises $280 M to Fund Over 40 Carbon Offset Projects

Reuters today revealed through an undisclosed source that the British firm Sindicatum Carbon Capital (SCC) has been successful in raising $280 million to support carbon offset projects on a global scale. Dubai-based Istithmar contributed around 25% of the fund whereas most of the remaining came from US endowment funds and pension funds.

Carbon Offsets Projects Get Funds

SCC previously tried to raise around $300 million in the first quarter of 2008 but the efforts werent really successful due to a declining economy. The current deal, however, is a new sign of hope for the global carbon offsets market.

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Indians Hold One-Day Training Class on Carbon Credits, Emissions Trading

United Nations Clean Development Mechanism surely opens opportunities for global GHG reductions while improving economic conditions in developing countries. But one problem that hinders this process is the lack of education and awareness about how carbon markets operate. Otherwise, even businesses operating in third world countries can contribute a good share in the global CDM projects.

Indians Carbon Credits Training

Indians and Chinese are getting large benefits from CDM projects at the moment and this may very well be due to relatively better know-how amongst businesses there. A good example was the recent one-day training class on Carbon Credits held in Mumbai, India. The event was conducted by the Institute of Company Secretaries of India, Centre for Corporate Research & Training (CCRT) on the 30th of this August.

Speakers there discussed and explained the role of United Nations Framework Convention on Climate Change (UNFCCC), Kyoto Protocol and Carbon Trading amongst many other things. Such training courses, no doubt, are an integral part of the move towards a global low-carbon economy. In countries where businesses are unaware of the mechanisms of carbon trading, American and European market actors can collaborate with local bodies to host such events, which would also serve as a marketing campaign for these Western actors.

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India 3rd Largest Emitter through Power Generation: CGD

The Center for Global Development (CGD) has revealed that India stands at the third position amongst the largest CO2 emitting nations all over the world. The Washington-based think-tank has suggested that Indians can do a lot better by moving to solar-powered energy.

 India Third Largest Emitter

Inside India, the National Thermal Power Corporation (NTPC) contributes the most to the countrys overall carbon emissions; however, the company is also one of the most efficient ones when it comes to power generation from fossil fuels.

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UNFCCC Gives Out Nearly 25,000 Carbon Credits to Indian Lanco Industries

Indias online news source Business Standard reports UNFCCC has given out around 25,000 carbon credits to Indian business group Lanco Industries for its CDM project. The 12 MW project uses waste heat recovery process to cut GHG emissions at a plant in the Indian province of Andhra Pradesh.

India UNFCCC Carbon Credits

It has been estimated that the project will reduce more than 50,000 tons of emissions per annum. Lanco Industries will run this project for ten consecutive years ending on Sep 30, 2016.

The current disbursement of carbon credits will earn Lanco around 33 million Indian Rupees, as the current CER price in the National Commodity and Derivatives Exchange (NCDEX) is Indian Rs 1,340 per tonne.

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Say Bye Bye to Cheap Carbon Credits

Recent analysis by New Carbon Finance (NCF) reveals most of the easy carbon credit projects are already being availed and chances are high that such low-price credits will diminish sharply in future. Afterwards, greater efforts and higher investments would have to be put in to gain carbon credits.

Cheap Carbon Credits

Up till now, most cheap credits have come mainly from elimination of two kinds of waste gases, HFC-23 and N2O. These two gases have a greater impact on global warming as compared to carbon dioxide. Due to this larger scale of emissions reductions, low-investment projects have resulted in cheaper carbon credits. However, since most projects cutting these two gases are already operational, future projects would have to earn credits through renewable energy and energy efficiency. This may result in at least a fivefold increase in project costs, which would eventually raise the price of carbon.

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Indian Exchange Seeks Bank Funding for CER Trade Promotion

The National Commodity and Derivatives Exchange (NCDEX) in India is trying to get some funds from banks, so as to breathe life into carbon futures on the exchange. An exchange representative stated that the money would be given to CER providers.

Indian Exchange Seeks Bank Funding for CER Trade Promotion

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CantorCO2e to Start Web-Based Auction for Carbon Credits

If you have got an arsenal of carbon credits up your sleeves, now is your time to cash in your hard work.

CantorCO2e, an international financial services provider operating in the carbon markets, is coming up with a web-based auction platform where credits or CERs can be auctioned off. In the last couple of months, prices of CER have fluctuated with an upward trend, going up from

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