India may soon lead developing countries in emission reduction

Bangalore, June 2 (UNI) The country has the potential to emerge as the leader among developing countries in exploiting the market for Certified Emission Reductions towards checking global warming through the Clean Development Mechanism (CDM) project under the United Nations Framework Convention on Climate Change (UNFCCC).

Addressing an awareness seminar on CDM, organised by the Federation of Indian Chamber of Commerce and Industries (FICCI) here today, Environment and Forests Planning Commission Director Srikanta K Panigrahi said India, which contributed about three per cent volume of global green house gases released against the global average of 5.2 per cent, had cleared over 360 CDM projects to be submitted to the world body.

Of them, over 26 projects have got concurrence from the Project Monitoring Committee of the UNFCCC. However, Brazil had overtaken India by getting approval for 37 CDM projects.

He said that taking into consideration the ill-effects of global warming, Governments around the world agreed during the 1992 Rio Earth Summit on a UNFCCC. Being a non-Annex-I party, India was not required to adopt any greenhouse gases reduction targets, but had to take steps to demonstrate its commitment to climate change mitigation.

Mr Panigrahi complimented the Karnataka State Road Transport Corporation (KSRTC) for developing bio-fuel to mix with diesel to run its fleet of buses. KSRTC would receive a substantial amount in return for adopting the CMD project and contributing in its own way for the cause of reducing green house gases.

Karnataka State Pollution Control Board Chairman Bhoomananda Manay opined that there was a need to popularise CDMs among industries and launch an intensive campaign to make industrialists realise the importance and the incentives they would get for contributing towards reducing green house gases.

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