"Emmission trade to set Economy on Blaze"
The next big foreign exchange producer could well be emmission trading.With over 250 projects cleared,India is emerging as a leader in emmission reducing projects which entitles producers to a large volume of carbon credits.The government expects 17000 cr of investment into the country till 2012 and estimates 10,000 cr a year by selling carbon credits .
The planning commission estimates that India can generate 205m CERs (certified emmission reductions) per year.
Trading in carbon reductions has become extremely popular after the Kyoto Protocol signed in 1997.
Critics do say that CDM ( clean development mechanism) isnt directly saving the environment. But I have a different point of view. Unless you attach monetary value to something, there is never gonig to be any interest in conservation. Carbon trading presents this opportunity.
With the amount of FDI this is inviting into India, this represents an opportunity for a non- Annexe 1 coutry( a developing nation) to obtain huge financial gains by employing cleaner technology.
Check out the front page of the Economic Times, Mumbai edition on this link:
http://www.economictimes.indiatimes.com/articleshow/1456042.cms
4 comments:
are great yar great! even if it's not cleanning the environment, it's getting in money and you will get some part of it. Your shot at becoming rich.
how many trees have you saved from felling down till now :P
Hello,
Now this is a very pleasant surprise! Came here via Nikhil's blog.
Sadly I cant understand a word of your post coz Im a total economic illiterate ;)
Well, i see your set in a business sector which could potentially be one of the key financial markets of India.
Like you said, when a monetary value is added to something then all kinds of interests pop up be in conservation or not...I actually see this as an opportunity for India to rapidly progress from the status of a developing nation to that of a superpower. I don't see why we shouldn't exploit this to our benefit to leapfrog countries such as USA and Australia who according to the article account for 50% of the global emission today.
got ur mail today. at least i have one more person to meet next time i'm in bombay now. I can't believe after 9 years we've managed to get back in touch...anyways will write u mail soon,
take care,
smiles,
Nikhil
when's the next post baby ?
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