By Richa Patil:
Rapid industrialization around the world during the twentieth century has led to excessive emissions of Greenhouse Gases in the atmosphere, leading to change in climate, which poses the severest threat to world’s ecosystems and human civilization.
A protocol to the UNFCCC (United Nations Framework Convention on Climate Change) known as Kyoto Protocol, was adopted during COP-3 (Conference of Parties III), in Dec 1997, which joins upon the developed country parties to reduce their GHG (Green House gases) emissions by a global average of 5.2% below the 1990 levels during 2008-12; it came to India in August, 2002 and came into force from 16th February, 2005.
Three mechanisms are involved in Kyoto protocol:
(1) Clean development (applicable only for developing countries)
(2) Joint Implementation
(3) Emissions trading
Out of the 3 Kyoto mechanism, CDM is the only for the developing world, which encourages cleaner development and bring various investments and technologies; which thus provides them an opportunity to adopt cleaner technologies and be paid for emission reductions. CDM is mainly meant for partnership between developed and developing countries for reduction in Greenhouse Gas (GHG) (CO2, CH4, N2O, HFCs, PFCs and SF6) emission. India is emerging as a CDM Global Leader.
As a result of the Kyoto Protocol, carbon has become a tradable commodity with an associated value. One metric tonne of carbon dioxide emissions reduced through a CDM project, as certified by a designated entity, is known as a CER (Certified Emission Reduction), which can be traded.
CDM has to undergo through a project cycle involving 4 stages such as:
(1) Project Development
(2) Validation and Registration
(3) Project Monitoring
(4) Verification, Certification and Issuance of CERs.
Some examples of CDM projects are listed: Carbon-dioxide displacement through utilization of renewable energy for power generation and thermal energy, Carbon dioxide reduction through energy efficiency improvement, Carbon-dioxide sequestration through aforestation and reforestation, Landfill gas capture and energy generation, Hydrofluorocarbon decomposition.
The Project proponent makes a certain percentage of the CERs revenue every year (to a minimum of 2%) for Sustainable Development including society development and accordingly makes monitorable action plan for the same and includes it in the PCN & PDD (project design document). It is a technical report which explains emission reductions that have occurred. It is a reference document for all stake holders.
Government of India has shown an approach to set up all the institutional setups (like Designated National Authority — DNA) to facilitate maximum participation of Indian industries to get the benefits of CDM.
As in this above image we can get a clear idea that emissions given out by industries is highestÂ so now it has become essential to take quick decisions to reduce it, it’s time to make immediate use of Clean development mechanism.
Types of projects in CDM:
Some project status in India is as follows:
CDM projects registered at the CDM executive board are 506 in number, 1,492 CDM projects are at or after the validation stage; 1,592 CDM projects have been approved by India. Any CDM project before getting started it is necessary to undergo the CDM project cycle as mentioned above.
Presently India has the largest number of projects. Energy Infratech Private Limited (EIPL) is getting involved in to these projects to get the benefit of CDM. TheÂ list of Indian companies who are getting benefits of clean development mechanism seems to be endless, the latest addition being the Raigarh-based Jindal Steel and Power Limited (JSPL). Tata power too got its first CDM project registered just recently.
The Delhi Metro Rail Corporation (DMRC) has become the first railway project in the world to earn carbon credit. United Nations has registered our metro under the Clean Development Mechanism (CDM), which enables it to claim carbon credits. Under this project, DMRC will earn Certified Emission Reductions (CERs).The entire project was carried out with the support of Japan Carbon Finance which provided almost $95,000.
The idea of conserving the environment is gathering pace and such global concerns are being heeded and the corrective measures are being accepted and implemented; CDM rises to give new hope to the world of a cleaner and greener earth for the future.