Mumbai: India, the world’s fourth largest polluter, plans to start a market to trade energy-saving credits that may reach Rs72,800 crore in five years as it seeks to curb emissions that cause global warming.
Businesses that exceed energy efficiency targets will be awarded credits that can be traded on power exchanges with companies that fail to meet the goals, Bureau of Energy Efficiency director-general Ajay Mathur said. The exchange-traded system may help India meet its target of cutting carbon intensity, or the amount of carbon dioxide released per unit of gross domestic product, by as much as 25% from 2005 levels by 2020.
India overtakes China as biggest palm oil buyer
Mumbai: India surpassed China as the world’s biggest buyer of palm oil as rising incomes increased demand for fried and processed foods and drought reduced domestic cooking oil production, according to a processor group. India imported 7 million tonnes in 2009, data from the Solvent Extractors’ Association of India shows.