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CARBON CREDITS:AN EFFECTIVE WAY OF CURBING
POLLUTION
By
Sarita Gurnule
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CARBON CREDITS
Carbon credits are an element used to aid in regulation of the amountof gases that are being released into the air.
This is part of a larger international plan which has been created in an
effort to reduce global warming and its effects.
The plan works by capping the amount of total emissions that can be
released by one company or business.
Introduction:-
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CARBON CREDITS
There are also many companies that sell carbon credits to
commercial and individual customers who are interested in
lowering their carbon footprint on a voluntary basis.
There are two types of market in carbon credit:
Compliance Market (Annexure I countries)
Voluntary Market (Non- Annexure countries)
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CARBON CREDITS
Burning of fossil fuels is a major source of industrial greenhouse gasemissions.
The major greenhouse gases emitted by these industries are carbon
dioxide, methane, nitrous oxide, hydro fluorocarbons (HFCs), etc.,
The concept of carbon credits came into existence as a result of
increasing awareness of the need for controlling emissions.
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CARBON CREDITS
The Clean Development Mechanism (CDM) is an arrangement
under the Kyoto Protocol allowing industrialized countries with a
greenhouse gas reduction commitment to invest in emission reducing
projects in developing countries
Carbon credits are certificates issued to countries that reduce their
emission of GHG which causes global warming.
Carbon credits are measured in units ofCertified Emission
Reductions (CERs).
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CARBON CREDITS
India is one of the exempted from this protocol as they are stated as
developing countries, but overseas companies can buy carbon credits
from these countries.
INDIAN COMPANIES: TAKING ADVANTAGE
o Gujarat Fluoro Chemicals
o Tata Steelo NTPC
OUTLOOK FOR INDIA
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CARBON CREDITS
Emission allowances:
Under the Kyoto Protocol, the 'caps' or quotas for Greenhouse gases
for the developed Annex I countries are known as Assigned
Amounts
The quantity of the initial assigned amount is denominated in
individual units, called Assigned amount units (AAUs)
Under Joint Implementation (JI)
Under the Clean Development Mechanism (CDM)
Under International Emissions Trading (IET)
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CARBON CREDITSEmission markets:
The Chicago Climate Exchange, European Climate Exchange,
NASDAQ OMX Commodities Europe, Power Next, Commodity
Exchange Bratislava and the European Energy Exchange.
How buying carbon credits can reduce emissions
Carbon credits create a market for reducing greenhouse emissions by
giving a monetary value to the cost of polluting the air.
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CARBON CREDITSConclusion:
There is a great opportunity awaiting for India in carbon trading.
Of the 391 projects sanctioned, the UNFCCC has registered114 fromIndia, the highest for any country.
In the new regime, the country could emerge as one of the largest
beneficiaries accounting for 25 % of the total world carbon trade,says a recent World Bank report
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CARBON CREDITS
BSEGREENEX Launched
BSE launch new index called BSE-GREENEX, measuring the
performance of companies in terms of carbon emissions.
The index model developed by BSE in collaboration with
premier B-school IIM-A, will enable investors take more
informed investment decision about companies in the energy-intensive sectors, amongst others
HITAVADA Article; Dated: 22nd Feb 2012
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THANK YOU