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Experts discussed various
methods of
controlling carbon dioxide emission and business opportunities
associated with the process during a seminar organised by the
Confederation of Indian Industry (CII) on August 11.
Speaking on the provisions
made by the
Kyoto protocol, the principal chief conservator of forest, CR Sahay,
said developed countries would fund projects involving reduction in
carbon-dioxide emission in the developing countries. "This
provision has been made under clean development mechanism (CDM) of
the Kyoto protocol," Sahay added asking entrepreneurs to take up
such projects.
"CDM is a market-based
mechanism
where one tonne of carbon mitigation is traded as one carbon emission
reduction (CER). The project cycle under CDM involves four stages
including project development, validation and registration, project
monitoring and verification of CERs," he added.
"In Jharkhand, we are
taking up
carbon dioxide sequestration projects, such as reforestation on waste
lands which are not suitable for agriculture. Funds for the projects
would be arranged in the form of loans from Nabard under the plan
fund. Projects would be evaluated with the help of CDM, India,"
Sahay said.
Subrata Ray, the assistant
director
(risk advisory services) Ernst and Young Pvt Ltd, spoke on clean
development mechanism and on carbon credits. "There are several
iron and steel, forestry, mines and power industries in the state. An
innovative approach should be adopted to reduce carbon dioxide."
Explaining the carbon
credits system,
Ray said, it would help in reducing the greenhouse gases. "Developed
countries like Japan, Canada and Australia have emitted enough
greenhouse gases to cause global warming. Now, to neutralise this
affect, green development mechanism should be adopted," he added.
There are super-critical
powerplants
and sub-critical powerplants in the state. "The super critical
power plants emit less carbon dioxide, hence there is direct saving.
We are also exploring the coal-bed methane in various coal mines,
which could reduce carbon dioxide emission to a large extent," Ray
pointed out. (Source: The Telegraph)
August 12, 2008
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