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NEW DELHI: Domestic companies such as Mahindra & Mahindra, Suzlon Energy, Tata Steel, Reliance Industries, Oil & Natural Gas Corp (ONGC), National Thermal Power Corp (NTPC) and DLF are waiting for the UN-led clean development mechanism (CDM) executive boards approval to implement their CDM projects. Of the 1,174 projects cleared by the Indian government, 748 are pending for registration with the international agency. United Nations Framework Convention on Climate Change (UNFCCC) is the regulatory agency for carbon credits under the Kyoto Protocol.
The pending projects have an estimated potential to produce carbon credits equivalent of 224 million tonnes of carbon dioxide, an expert, who wished not to be identified, said.
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