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PUNE: State minister for forests Babanrao Pachpute distributed Rs 55 lakh as carbon credit (CC) funds to 24 Indian project promoters for commercializing their carbon credits for a period from January to December 2007.
Pachpute presented the funds at a city hotel on Saturday during the ‘Carbon Credit Fund Distribution Ceremony’ organized by MITCON Consultancy Services Limited, a firm dealing with energy auditing in industrial sectors.
Later, interacting with media persons, the minister said that the State government is in the process of formulating a CC policy and would invite MITCON consultancy for their suggestions.
Explaining the rationale of CC, MITCON executive vice-president Deepak Zade said, “One CC is one tone of CO2 saved from being emitted in the atmosphere. The concept came into existence after the Kyoto Protocol of United Nations Framework Convention on Climate Change (UNFCCC).”
Elaborating further, he said, “When a company in a developing country incorporates a technology that saves carbon from being emitted, then it can earn equivalent carbon credits.
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Author: Sakaal Times