In the context of Multi-Commodity Exchange (MCX) and the National Commodity Exchange (NCDEX), India’s premier commodity exchanges, are readying for carbon trading, India’s leading Business School IIM Lucknow is all set to introduce a course on carbon markets. Read the news story here.h*tp://www.livemint.com/2007/06/26001731/IIM-Lucknow-set-to-start-cours.html

 Delhi Metro Rail Corporation (DMRC) in New Delhi, India is reported to become a Clean Development Mechnism Project, there by becoming first of its kind in the initiative. A recent study by the Central Road Research Institute (CRRI), has observed that DMRC achieved saving of 33,000 tonnes of fuel and reduced over 2,275 tonnes of GHG emissions. The energy conservation and efficiency by DMRC Qualifies as CDM project. It is good to note the initiative as tha transport sector is one of the significant contributor to atmospheric emissions.Source:cities.expressindia.com. The news is here. h*tp://cities.expressindia.com/f ullstory.php?newsid=242895

The recent report “Rs 15,000 cr Carbon credits await India Inc” in economictimes. indiatimes. com has an interesting information that INR 15,000 crore will be the Carbon credits sale proceeds by 2012 for India, provided the projects approved by the National CDM Authority get approved by the CDM Executive Board. Quoting the data compiled by industry body Ficci, it mentioned that 599 projects were approved by National CDM Authority by mid-April, 2007. The number of projects approved by national authority are biomass (197), energy efficiency (166) and renewable energy (151) . The list of Potential carbon credit volume contribution by type of projects is lead by energy efficiency (11.33 crore), with industrial process (0.97 crore) and biomass (0.61 crore) following. Region/State wise ranking of approved projects are 1) UP: 69 2) AP: 68 and 3) Maharashtra:68. As on 26 June, 20007 713 projects are approved by CDM executive Board with expected 151,970,186 (42.8% 0f Total) annual average CERs and more than 960,000,000 Expected CERs until end of 2012. In the list of expected average annual CERs by host party, China is leading with average annual reductions of 65,036,178 with 90 projects. India has 250 projects (35.06%) approved with average annual reductions of 22,998,713.
Source: 1) economictimes.indiatimes.com 2) unfccc.int

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The Delhi city government is reported to have decided to tap commercial opportunities arising  by carbon reductions in trading business through ”green projects”. So far 11 green projects are said to be identified. Source: hindu.com The news is here. h*tp://www.hindu.com/thehindu/holnus/002200706250321.htm

In a recent financial istitutions forum in South Africa it has been resolved  to trade 100 million carbon credits annually from Africa and observed that it will be an opportunity to help Africa fight poverty through trade. With the initiatves of East African Portland Cement of using new technologies, Athi River Mining using husk to replace coal, KenGen and Mumias Sugar Company the reduction of environmental impact and generation fof funds for development is definite possibility. Source:bdafrica.com The news is here. h*tp://www.bdafrica.com/index.php?option=com_content&task=view&id =1599 &Itemid=5292

Japan Greenhouse Gas Reduction Fund (JGRF), country’s  first carbon fund  finances Japan Carbon  carbn finance, ltd. (JCF)   to promote GHG  gas reduction projects and to buy  CERs/ERUs credits resulting out of the projects,  for use in the first commitment period,  2008 -2012. Some of the emission reduction purchase agreement (ERPA) JCF has entered in to, with the projects are interesting such as 1) project of improving charcoal manufacturing process replacing burning process of coconuts shell to effect reduction of 45 thousand CO2e tons/ year in Srilanka. 2) Bundled Wind Power Project Construction of wind farms and selling power to the grid to effect emission reductions by about 300 thousand CO2e tons/year. 3) Improving energy efficiency in the plants to reduce emissions by1 million CO2 equivalent tons (2008-2012) 4)  Coal Mine Methane Power Generation Project to reduce about 2 million CO2e tons/year. It is inspiring to note the technological innovations and improvements being adopted in fighting environmental issues. Source:.jcarbon.co.jp. The news is here.http://www.jcarbon.co.jp/JCF_HP/ 04_new/ 04new.html#what_08

With thePhilippine government’s announcement to step up thier efforts in addressing climate change and take advantage of the carbon trading British businesses involved in in climate change are to help local companies in developing Clean Development Mechanism (CDM) projects which result in  global revenues from carbon credits.Read the full story “Britain Promotes Carbon Trading For Philippine Business” is here.h*tp://au.news.yahoo.com/070620/3/13sh5.html

Tokyo Electric Power Co., has recently announced an agreement with two biomass-generation projects complying Kyoto Protocol’s CDM, in Chile, for about 480,000 metric tons of carbon dioxide. It is interesting to note the biomass- generation resulting in reduction of GHG emissions.Source:bloomberg.com. The news is here. http://www.bloomberg.com/apps/news?pid=20601086&sid=a2SnwwRi4hmE

Research and Markets (http://www.researchandmarkets.com/reports/c60573) has recently announced  thier 2nd Edition of Research Reports International’s Carbon Investment Funds report. Interesting topics are covered in the report.Source: au.biz.yahoo.com The press release is here.http://au.biz.yahoo.com/ 070622/43/1abc8.html

Christchurch City Council’s project at the closed Burwood Landfill collects methane gas, generated by the Organic waste, and transport through underground pipeline to QEII Park, to provide heating and electricity for the swimming pool complex. The project saves  about $1 million in LPG and electricity costs a year and emissions reduction equalls emission by 11,000 cars each year. The power generation is  sufficient to power 200 average households.The carbon credits resuted in the project (New Zealand’s first overseas carbon credit sale)  will generate about $3 million in revenue, for the Council over five years (between 2008 and 2012).The capture of methane is interesting because of its global warming potential of 21 compared to CO2 (GWP=1) and it contributes much more to global warming.Source:scoop.co.nz The press release is here. h*tp://www.scoop.co.nz/stories/AK0706/S00227.htm