The only serious and viable approach for engaging developing countries in global efforts to tame global warming is one that aligns with their own core interests. Those interests are complex, but in general these countries put a high priority on economic development and energy security.
The United Nations Framework for Convention on Climate Change (UNFCCC) has certified the coal-based thermal power project of Adani Power Ltd (APL) at Mundra, Gujarat, as the first Clean Development Mechanism (CDM) project in the world.
Despite the Copenhagen chill, there are heart-warming tidings for the Punjab industrialists running green projects or planning to set up one. The state government plans to start a consultancy to offer services on no-profit-no-loss basis to companies intending to gain from carbon credits.
Leslie D'Monte / New Delhi December 11, 2009, 0:44 IST
The Indian government has approved more than 1,400 projects as part of the Clean Development Mechanism (CDM) that could attract around $6 billion(Rs 28,000 crore) into the country by 2012 through sale of Certified Emission Reduction (CER) certificates, according to Environment and Forests minister Jairam Ramesh.
Viveat Susan Pinto / Mumbai December 10, 2009, 0:49 IST
As governments debate ways to reduce carbon emission levels at the climate change summit in Copenhagen, some fast moving consumer goods (FMCG) companies are doing their bit to rein in carbon footprints.
The UN clean development mechanism (CDM) needs a better regulatory framework and a more streamlined decision-making if the system is to be scaled up, according to the World Bank.
Since the inception of the cap and trade model under the Kyoto Protocol, many environmentalists have argued it will do little to cut emissions, but will instead give companies permission to pollute while generating lucrative trading fees for the banks that trade the government-issued allowances which form the backbone of the scheme.
