Bane no more, carbon emission a boon

The Telegraph , Tuesday, December 19, 2006
Correspondent : M. Ganguly
Experts focus on greenhouse gas trade in developing countries

Ranchi, Dec. 18: Unbelievable but true. Greenhouse gas emission is not only a matter of concern. It rolls out a scope of trading, too.

Incredible it may sound, but that was exactly what discussed at CDM Steel’ 06, an international seminar on clean development mechanism (CDM) opportunities in iron and steel sector.

Organised by Mecon in association with Plantech Co and Toyota Tsusho Corporation of Japan, the two-day seminar kicked off at the Mecon Community Hall here today. The participants observed that by reducing carbon dioxide emission in industries, particularly in iron and steel sector, India could grab a large chunk of global carbon trading.

According to a World Bank survey, 374 million tonnes of carbon dioxide emission were transacted at US$2.7 billion in 2005. India, with maximum number of CDM projects, is currently the leader in the field, the participants said at the seminar.

Inaugurating the programme, D. Rath, the chairman-cum-managing director of Mecon Limited, described CDM as an economic exchange phenomenon between developed and developing countries for reduction of carbon dioxide emission.

B. Sengupta, the member secretary of the Central Pollution Control Board (CPCB), said in his keynote address that the iron and steel sector, particularly sponge iron units, have huge potential to take emission saving measures and earn through this.

K.D. Choudhury, the chairman of the organising committee of the seminar, said carbon dioxide emission is much less in India compared to many developed countries. “It is just 4 per cent of that of United States of America and 8 per cent of Germany. Still India has a lot of opportunities to work towards emission saving and earning in the process,” he said.

Michio Nakayama, the manager of Plantech Co. of Japan, who is participating in the seminar, told The Telegraph that his company was interested in getting associated with CDM projects in India by extending all possible support and financing.

Significantly, industries emit greenhouse gases like carbon dioxide that affect the environment. The Kyoto Protocol of the United Nations convention on climate change floated the idea of carbon trading 15 years ago. It is now a reality.

 
SOURCE : The Telegraph, Tuesday, December 19, 2006
 


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