Mumbai: In an initiative that will enable direct trading of carbon credits to take off in India, Multi Commodity Exchange (MCX)—the country’s biggest commodity exchange—on Monday launched futures trading in carbon credits. The initiative makes MCX Asia’s first commodity exchange to trade in carbon credit futures.

“Launching of carbon credit futures on the Indian trading platform would provide transparency to markets and help producers earn remunerative returns out of environmentally clean projects,” said Joseph Massey, deputy managing director of MCX.

Carbon credits are generated by projects that reduce carbon dioxide emissions in developing countries. They can be purchased by developed countries to fulfil their emission commitments mandated under the Kyoto Protocol.

Japan, ADB to ease flow of services in S Asia

New Delhi: Japan and the Asian Development Bank (ADB) are helping to prepare an investment project that will ease the flow of goods, services and people across India, Bangladesh, Bhutan and Nepal to promote economic cooperation and integration. The Japan Special Fund is extending a $1 million (Rs3.94 crore) grant to draw up the design for the SASEC (South Asia Subregional Economic Co-operation) Transport Logistics and Trade Facilitation Project. ADB will manage the grant. K.P. Narayana Kumar