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 IN SOLIDARITY WITH A UNIVERSAL CAUSE
In a bid to
reduce our nation’s carbon footprints and boost development
of alternative energy sources to help tackle the problem of
climate change, we remain committed to a sustainable future
in a changing world reflected in our development planning.
Two of our plants are registered with the CDM (Clean
Development Mechanism), which also provides us the
opportunity to earn through CER (Certified Emission
Reduction).
For operation of DD co-generation plant during the season
2007-08, we received Certified Emission Reduction (CERs) of
6,947 from UNFCCC. We are in the process of receiving CERs
for co-generation plant operated at our DP unit for 2007-08
and 2008-09, and at our DD unit for 2008-09.
In all, we expect to receive another 30,000 CERs in the near
future. We are yet to sell the CERs received.
What are carbon credits: A Carbon credit is
a generic term meaning that a value has been assigned to a
reduction or offset of greenhouse gas emissions.[1] Carbon
credits and markets are key components of national and
international attempts to mitigate the growth in
concentrations of greenhouse gases (GHGs). One carbon credit
is equal to one ton of carbon dioxide, or in some markets,
carbon dioxide equivalent gases. Carbon trading is an
application of an emissions trading approach. Greenhouse gas
emissions are capped and then markets are used to allocate
the emissions among the group of regulated sources. The goal
is to allow market mechanisms to drive industrial and
commercial processes in the direction of low emissions or
less carbon intensive approaches than those used when there
is no cost to emitting carbon dioxide and other GHGs into
the atmosphere. Since GHG mitigation projects generate
credits, this approach can be used to finance carbon
reduction schemes between trading partners and around the
world.
There are also many companies that sell carbon credits to
commercial and individual customers who are interested in
lowering their carbon footprint on a voluntary basis. These
carbon offsetters purchase the credits from an investment
fund or a carbon development company that has aggregated the
credits from individual projects.
Source: Wikipedia |
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