| Sourced From |
New Delhi, Aug 11 (IBNS) Under the Clean Development Mechanism (CDM) of the United Nations Framework Convention on Climate Change (UNFCCC), carbon credits are earned by project proponents that develop and implement projects as per CDM modalities and procedures and are registered by the CDM Executive Board.
National Governments recommend such CDM projects for registration with the Executive Board as contribute to sustainable development.
As on date India has 520 registered CDM projects, out of the total 2313 projects registered by the CDM Executive Board of the UNFCCC, said Minister of State for Environment and Forests (Independent Charge) Jairam Ramesh in Lok Sabha on Wednesday.
These projects have the potential to generate 43 million Certified Emission Reduction Units (CERs) per annum which amount to approximately 12% of the total annual CERs generated by registered CDM projects globally.
As on date 79 million CERs have been issued to Indian projects and assuming a conservative price of $10 per CER, the value of actual CER issued to Indian projects amounts to US$ 790 million.
Related posts: