Indian Cos Set To Gain From Carbon Credits

Carbon credits are bought by polluting companies and are sold by the cleaner companies. It is becoming big business as Indian companies take up projects to reduce carbon dioxide emission. Indian companies will now get more money for the certified emission reduction units they earn by an auction system to be launched by Cantor soon and India is expected to earn over $1 billion per annum.

Till now they are not getting the right price for the CERs, India to earn three billion euros as revenues, said Dr Rambabu, MD- India, CantorCO2e. An American company spends $30 to earn every unit of carbon credit, while buying it from India is as cheap as $1. Indian companies are expected to sell carbon credits worth 50 million CERs this fiscal and 200 million by 2020. With the settlement date set by Kyoto Protocol nearing, the global demand for carbon credit is expected to be at 1 billion CERs every year, through auction platform Indian companies will be able to sell their carbon credits at a more competitive price.