INVC,,
New Delhi,
“India has a huge potential for Clean Development Mechanism (CDM) projects. Along with China, India has been a leading destination for CDM projects globally since the inception of the mechanism. India is also one of the leading countries with the highest number of registered protects until Feb 2010” remarked Thomas Matussek, the German Ambassador to India inaugurating a two-days event aptly titled, Carbon Bazaar 2010, jointly organised by the Ministry of Environment of India and Germany as well as the GTZ, the German Technical Cooperation Agency in New Delhi today.
The Clean Development Mechanism allows emission-reduction (or emission removal) projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to a meet a part of their emission reduction targets under the Kyoto Protocol.
J. M. Mauskar, Additional Secretary, Ministry of Environment and Forests, Government of India, noted “India’s CDM potential represents a significant component of the global CDM market. As on May 7 2010, 505 out of a total of 2194 projects registered with the CDM executive board are from India. If all these projects get registered, they have a potential to generate 639 million CERs by the year 2012.
The Government of India constituted the National Clean Development Mechanism (CDM) Authority for the purpose of protecting and improving the quality of environment in December 2003 within the framework of the Kyoto Protocol. The National Clean Development Mechanism (CDM) Authority receives projects for evaluation and approval as per the guidelines and general criteria laid down in the relevant rules and modalities pertaining to CDM in addition to the guidelines issued by the United Nations Framework Convention on Climate Change.”
Thomas Matussek, delineating the German Government interest in India as a partner for Clean Development Mechanism projects also mentioned, “The collaboration between India and Germany in the field of Clean Development Mechanism has been quite successful with concrete results which also include the facilitation of carbon trading amongst the private players in the two countries. The German collaboration with the National Clean Development Mechanism Authority has lead to enhanced capacities as well as the development of CDM projects.”
Franzjosef Schafhausen, Deputy Director General of the German Ministry of Environment, further elaborated on the cooperation between India and Germany in the field of CDM, “The Ministry of Environment and Forest, Government of India and the German Federal Ministry for the Environment have launched the CDM initiative in India to boost the market mechanisms and CER trading in India and also provide a meeting ground for the disparate market players. The focus of this initiative is to facilitate the participation of the Indian CDM projects in the European Union’s Emission Trading Scheme thereby also becoming a part of the Global Carbon Market.”
Juergen Bischoff, Director, GTZ Environment Programme in India, stressing the long standing relationship between Germany and India in the field of CDM informed, “The Germany Technical Cooperation agency has been a knowledge partner to the National Clean Development Mechanism Authority (NCDMA) of India since its inception in 2003. The partnership has lead to the identification and development of projects with substantive generation of CERs. The partnership has further provided market linkages for the generated CERs and the Carbon Bazaar is a further step in that direction.”
As part of their drive to stimulate the market for CERs in India, the Carbon Bazaar 2010 features Business to Business Meetings between buyers and sellers of Carbon Credits. More than 100 projects with carbon credits between 35000 to 70000 tonnes of CO2 each are being negotiated this year at the Bazaar.
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