It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
New Delhi (PTI): India has emerged as the second largest seller of carbon credits in the global market with six per cent share in 2007, while China tops the list with a huge 73 per cent, a World Bank report said.
"India and Brazil, at 6 per cent market share each, transacted the highest volumes after China in 2007," said the report 'State and trends of the carbon market 2008'.
Certified emission reduction (CER), that are traded on the global climate exchanges, are carbon credits issued by the Clean Development Mechanism (CDM) Executive Board for emission reductions achieved by CDM projects and verified under the rules of the Kyoto Protocol.
Pointing out that high price expectation for CERs in India and Brazil is hindering growth, the report said the sellers in these two nations favour sale of already issued CERs in the range of 15-16.50 pound per CER instead of selling forward CER streams.
For the third consecutive year, China was the world leader in CER supply with a 73 per cent market share in terms of volumes last year against 54 per cent in 2006.
Citing reasons for China still being the destination of choice for buyers of credits, the report said "the large size, economies of scale in origination, and its favourable investment climate " have attracted investors.
"China consolidated its position as the pre-eminent carbon supplier, by quadrupling its number of projects in the pipeline from January 2007 to March 2008," it said.
China is well ahead of other nations in the CDM pipeline with 53 per cent of potential CER supply with 1,104 projects till 2012, compared to India's 15 per cent of the total CDM pipeline, it noted.
The carbon market is the most visible result of early regulatory efforts to mitigate climate change.
Originally posted by 44soulslayer
The Chicago carbon trading board is a nice idea, but to what extent it will work is unknown. At the moment it is rather floundering, as there are no incentives to buy carbon credits.
Originally posted by Harlequin
reply to post by 44soulslayer
easy ? bush has said directly india is resonsable for the food issues in teh world - so he has a right to be rather upset.
Vehicles in band G, those that emit more than 225 grams of CO2 per kilometre, will pay a whopping £25($50) every day to enter the congestion zone. This will mostly affect heavy 4×4 vehicles. Most other vehicles will continue to pay the daily charge of £8.