Norwegian agency undertakes CDM project for Indian Industry

Kolkata, May 26 (UNI) Norwegian Agency for Development Cooperation (NORAD), one of the largest environmental agencies in the world, has undertaken a mega project for the promotion of Clean Development Mechanism (CDM) among several industrial units in the country.

Announcing this new initiative, Environment Minister of West Bengal Mohanta Chatterjee told members of the Federation of Indian Chambers of Commerce and Industry (FICCI) here today that under the Kyoto protocol all polluting units under private and public sectors were bound to reduce their level of pollution to a certain degree under the close watch of CDM by 2008 Under the project, the concerned units would receive emission reduction certificates which they could use to meet their targets at a much lower cost thereby saving in terms of finance, technology upgradation and the overall project cost, the minister emphasised.

He added that realising the global importance of the project' there was a need for more Indian companies to go for the CDM and emphasised the need for creating public awarness and developing greater capabilities for implementing the projects.

Incidentally, to begin with, altogether five industrial units from different sectors had opted for the CDM from Eastern India with some more evincing keen interest to join the bandwagon, Mr Chatterjee stated.

Several representatives from the Norwegian agency who were present on the occassion presented a detailed power-point presentation to drive home their points.

UNI ABA SP SHB DB1832