ICTS’s claim for carbon credit

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Indore City Transport Services Ltd (ICTSL) has made its claim for Carbon Credit. In this regard, the company has made a presentation in Delhi yesterday. If the claim of carbon credit is accepted by the Union government and the designated authority concerned, the company could earn a revenue of Rs 1 crore per annum for its 100 city buses.

The presentation was made by a Delhi-based company Emergent Venture India Private Limited. ICTSL CEO Gautam Singh and the ICTSL chief technical advisor Satishchandra Garg were also present during the presentation ceremony. The proposal of carbon credit will be submitted to the United Nation by the forest ministry of the Union government. In case the proposal is accepted, the ICTSL may earn an annual revenue of Rs 1 crore per annum.

Presently Indore has 100 city buses and with the recent approval of the Union government, the city will have 175 new buses in the coming time. In the next few years, Indore will likely to have 500 cities buses which will ply in Indore and surrounding regions and in that eventuality, the Carbon-dioxide level in the city may be reduced by 20,000 tones annually. This in turn will help Indore get huge amount of money from the Carbon credit, the company sources informed.