EcoSecurities is currently assessing around 40 projects in clean development mechanism (CDM) across India. The market is definitely growing. India is definitely going to be one of the major suppliers of carbon credits that is why we are here to stay.
Four projects from India registered already and more to come. One of the projects set to see their first certified emission reduction (CER) units revenue coming through, said Ishani Chattopadhyay, director of Ecosecurities. She was speaking at the sidelines of UK India climate change business seminar organised by UKs department of trade and industry and department of environment, food and rural affairs here on Monday.
Gareth Hughes, founder of Climate Change Capital, which is a merchant banking firm, said that the company proposes to contribute in India in carbon market knowledge sharing, energy and climate policy expertise transfer and participate in key CDM transactions.India can play a major role in the CO2 trading market which is of $2.5 trillion to $3 trillion at the world level. u
In India, energy, cement, steel and fertilisers are key industry sector participants. Recently our company has executed a mandate for a large Indian family institutional holding for renewable power portfolio acquisition in Europe, added Mr Hughes.
Another company, Agrinergy has already entered into an agreement with DCM Shriram Consolidated Energy Services for the development of CDM projects in India. So far the company has developed small scale projects mainly renewable energy projects, municipal solid waste, blended cement, bagasse cogeneration and waste heat recovery. Currently the company is developing municipal solid waste project and a small scale biomass project in India
, said Robert Taylor director of the company.
This apart, UKs department of trade and industry has shortlisted India among the top four in the emerging carbon trading market. Jed Jones, principal projects advisor of climate change projects office said Our internal study shows that India, Brazil, China and South Korea are four leading countries where there is untapped potential in carbon trading market. India is favoured by EU and UK companies as there is a financial stability. There are more sectors apart from traditional ones which are looking out for options in carbon trading.