According to the article, India has emerged as the second largest seller of carbon credits in the global market with six per cent share in 2007, while China tops the list with a huge 73 per cent, a World Bank report said. "India and Brazil, at 6 per cent market share each, transacted the highest volumes after China in 2007," said the report 'State and trends of the carbon market 2008'. Certified emission reduction (CER), that are traded on the global climate exchanges, are carbon credits issued by the Clean Development Mechanism (CDM) Executive Board for emission reductions achieved by CDM projects and verified under the rules of the Kyoto Protocol. Pointing out that high price expectation for CERs in India and Brazil is hindering growth, the report said the sellers in these two nations favour sale of already issued CERs in the range of 15-16.50 pound per CER instead of selling forward CER streams. For the third consecutive year, China was the world leader in CER supply with a 73 per cent market share in terms of volumes last year against 54 per cent in 2006. Citing reasons for China still being the destination of choice for buyers of credits, the report said "the large size, economies of scale in origination, and its favourable investment climate " have attracted investors. "China consolidated its position as the pre-eminent carbon supplier, by quadrupling its number of projects in the pipeline from January 2007 to March 2008," it said. China is well ahead of other nations in the CDM pipeline with 53 per cent of potential CER supply with 1,104 projects till 2012, compared to India's 15 per cent of the total CDM pipeline, it noted. The carbon market is the most visible result of early regulatory efforts to mitigate climate change.

For Detailed Report: http://www.hindu.com/thehindu/holnus/006200805191761.htm

Source: Hindu - WEb Edition

According to the article, The Prime Minister's committee on Monday discussed the national action plan on climate change likely to be unveiled soon. The 22-member committee will complete the plan before the G-8 summit next month which is expected to be dominated by the issue of climate change. The focus of the plan is more on adaptation to than on mitigation of challenges thrown up by climate change, sources said. It is in keeping with India's stand that being a developing nation growth can not be compromised and it is the developed nations who should mitigate and cut down carbon emissions. India does not want to bind itself with any commitment to cut down the emissions which has been contributed by the developed nations, they said. But now they want developing countries like India to take the burden of cutting down emissions without realising that these countries could not sacrifice their growth which entailed increase in carbon emissions, they said. Whether climate change occurs due to man made factors or natural calamity, the country has to be ready to face its consequences, they said, adding it is for this reason that the National Action Plan on Climate Change is paying more attention to adaptation than to mitigation. The plan is also likely to focus on the transfer of technology from the developed nations to developing nations. The committee is also understood to have discussed the crucial role to be played by technology in adapting to the challenges of climate change and affordability of different technologies in the field by the developing countries. It also stressed upon the need for more reasearch in the field of science and agriculture to adapt to the impending changes in climate. The plan is likley to focus on creating plans at the national, sub-national and local levels so that the impacts of climate change on the poor can be tackled.


For Detailed Report: http://www.hindu.com/thehindu/holnus/000200806030320.htm

Source: Hindu - WeB Edition