Financial Daily from THE HINDU group of publications
Sunday, Apr 17, 2005
Financial Daily from THE HINDU group of publications Sunday, Apr 17, 2005 |
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Industry & Economy
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Environment German bank eyes deal with Hyderabad co for carbon credits Sriram Srinivasan
Chennai , April 16 GERMANY'S KfW Bank Group has approved the project idea of the Hyderabad-based Eco Carbon to use its proprietary technology for producing "eco-friendly" bricks, which could lead to the purchase of carbon credits from the Indian company. Eco Carbon promotes FaL-G bricks and blocks that can be produced without the use of thermal energy, unlike traditional clay bricks. The technology, involving a blend of fly ash, lime and gypsum, was developed by the Institute for Solid Waste Research & Ecological Balance Visakhapatnam, which floated Eco Carbon as its commercial front. Mr N. Kalidas, the intstitute's Director and co-founder of Eco Carbon, told Business Line that his plan, as mentioned in his proposal to KfW, was to rope in at least 20 corporates who will be willing to set up plants with mega capacities, each producing about 30 million bricks a year. He expects to sell about 1.7 million tonnes of credits in the next 10 years, as a result. KfW is said to have forwarded the proposal to Germany's Environment Ministry, which has to issue a letter of endorsement. The company has also asked Eco Carbon to send a full proposal, he said. Last year, the World Bank expressed its willingness to buy eight lakh tonnes of carbon credits generated out of 300 FaL-G plants. The rate was set at $5 per tonne. The evaluation process is in its final stages. Developed countries, according to the Kyoto protocol, need to reduce their greenhouse gas emissions by 5.2 per cent between 2008 and 2012 from 1990 levels; they can offset their emissions by claiming carbon credits for the implementation of emission-reducing projects in developing countries.
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