The Hindu Business Line : Carbon credit project size growing

The average size of Indian clean development mechanism (CDM) project has grown to 80,000 Certified Emission Reduction (CERs) a year between January and August against about 55,000 CERs last year.

This is less compared with the global project average of 1,20,000 CER.

The project size is important as large European buyers generally prefer to buy CERs from projects capable of generating high volumes of CERs.

“The average CER volume of Indian projects entering the CDM mechanism between January and August increased to approximately 80,000 CER a year,” said Mr Bishal Thapa, Managing Director, ICF International India.

At the current level, the price of one CER is €19 or Rs 1200.

He explained that the growing size of Indian carbon credit projects would make it easier for European firms to buy carbon credits from India.

During the year, the share of industrial and manufacturing sector in CER projects increased to 30 per cent.

“Unlike China, foreign firms were finding it difficult to buy large scale CERs from India due to its smaller size. But with increasing size of Indian CER projects, European companies will find the market here more attractive to invest,” he added.

Clean development mechanism allows companies to reduce their greenhouse gas emissions and earn carbon credits.

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