Industry & Economy
-
Environment
Prompt-start projects: Eco Ministry seeks extension of deadline
Mamuni Das
New Delhi
,
Nov. 11
THE Ministry of Environment and Forests (MoEF) has written to the UN panel on climate change requesting it to defer the December 31, 2005, deadline by one year for prompt-start projects.
Prompt-start projects are those that started their activities after January 1, 2000 and want to trade carbon through the clean development mechanism (CDM). They could have generated CERs (certified emission reductions) between January 1, 2000 and November 18, 2004, had their projects been registered before this year-end.
Each CER stands for one tonne of carbon dioxide reduction and can be traded globally.
If these projects are registered after December 31, they can trade those CERs that they accumulate after they are registered, but they cannot liquidate the value of net green house gas emission reduction obtained prior to the date of registration during the earlier period. This is applicable according to the modalities of the Marakkesh Accord of the Kyoto Protocol.
"We have written to the CDM Executive Board asking them to consider extending the December 31, 2005, deadline by another year," Mr Naresh Dayal, Additional Secretary, Environment Ministry, told Business Line on the sidelines of a conference here on Friday.Pointing out that the demand was not unreasonable, Mr Dayal said, "When the Marakkesh Accord was finalised, it was not envisaged that it would take so long for the Kyoto Protocol mechanism to start on the ground." The issue could be taken up in the forthcoming Montreal session starting November 28, he said.
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
