New Delhi: Indian industry has potential to generate carbon credits of around 417 million tonnes by 2012 when the first commitment period of Kyoto Protocol ends, Rajya Sabha was informed Thursday.
Minister of State for Environment and Forests Namo Narain Meena said the domestic industry has the potential to generate Certified Emission Reductions (CERs) of around 417 million tonnes of carbon dioxide equivalent by the end of the first commitment period of Kyoto Protocol.
Government has set up the National Clean Development Mechanism (CDM) Authority for approval of eligible projects, the minister said replying to supplementaries during Question Hour.
“Further validation of projects, including calculations of CERs, is undertaken by Designated Operational Entities (DOEs). Based on DOE recommendations, carbon credits are issued by the CDM Executive Board,” he said.