India has emerged as the second largest seller of carbon credits in the global market with six per cent share in 2007, while China tops the list with a huge 73 per cent, a World Bank report said. "India and Brazil, at 6 per cent market share each, transacted the highest volumes after China in 2007," said the report State and Trends of the Carbon Market 2008.

CERs to rise 75% this year; India accounts for 43% of emission reductions issued by global body. In the backdrop of an increasing threat of global climate change, the worldwide carbon credit market is expected to grow by nearly 75 per cent in 2008. "The carbon market size, which was 40 billion Euro in 2007, is likely to grow up to 60-70 billion Euro in 2008," said Rajesh Srivastava, managing director, Rabo India Finance, speaking at an international conference on carbon credits on Friday.

Furnishes letter by Union MOS saying no deal has been signed with World Bank by any state or Centre Even as Chief Minister Prem Kumar Dhumal and his Congress predecessor Virbhadra Singh have already locked horns on the carbon credits issue, a sitting Lok Sabha member, Chander Kumar, today gave a new twist to the bio-carbon project.

Make-or-break for an idea that is meant to help the poor grow and be green Reuters It's not just the market that's drying up

The global carbon market more than doubled in value in 2007 to $64 billion, but that masked slow growth in actual greenhouse gas emissions cuts, the World Bank's carbon finance unit said on Wednesday. Climate change policies which limit the production of planet-heating gases in rich countries are driving booming global demand for emissions permits. One way industrialised nations can buy carbon offsets is by funding greenhouse gas emissions cuts in developing nations, through a UN-led scheme under the Kyoto Protocol, but growth in value is outstripping emissions cuts.

Market-based incentives for additional greenhouse gas emission reductions for project activities offer new opportunities in developing countries. The revenue from Clean Development Mechanism (CDM) projects can ensure financial viability of energy conservation and cost reduction measures in many industries. Carbon credits generation activity is growing at 80% in India. Though India has the highest number of registered CDM projects in the world, CDM has yet to become popular among small and medium enterprises (SMEs).

It is well known that certain naturally occurring trace gases in our atmosphere trap radiant heat from the sun and give rise to the greenhouse effect. In the post-industrialisation era, some manmade greenhouse gases are being added to the atmosphere and are contributing to enhanced greenhouse gas effect or global warming. Global warming is not yet fully understood since it's a complex climate phenomenon. Carbon dioxide (CO2)