Kolkata: Encouraged by the success of environment-friendly initiatives at its ITC Sonar hotel, and at its paperboard and speciality paper division, ITC Ltd is working to implement the programme at several hotels and factories of the group.
It is also looking to take advantage of the Certified Emission Reduction (CER),or carbon credit scheme, in as many as nine hotels and eight projects in the paper division, said Subhash Rustagi, executive vice-president, corporate environment, health and safety of ITC.
According to Rustagi, the company sold about 80,000 carbon credits in the last fiscal, generated by implementing and encouraging energy efficiency measures at the Sonar and some of its paper factories.
Though he was unwilling to divulge how much the company earned from the sale of carbon credits, a person familiar with the matter said the hotel generated 1,886 credits for the period from January to December 2006.
Leaving aside the mandated 2% for United Nations Framework Convention on Climate Change adaptation fund, 1884 carbon credits were sold by the company for Rs14.72 lakh. One CER is equal to a tonne of carbon dioxide.
“The whole process from identifying various areas where energy efficiency can be introduced to the actual registration with the Clean Development Mechanism executive board in Bonn takes anywhere between 9-18 months,” said Rustagi. “However, we hope to get registration by the end of this year.”