Indian carbon credit market to touch $6 bln by 2012

New Delhi, Jul 16 (UNI) ICRA Management Consulting Services Ltd today projected the Indian carbon credit market to touch six billion dollars by 2012 from 200 million at present, thanks to a growing number of firms adopting clean technologies.

India has a 20 per cent share in the global market which is of the order of one billion dollars.

''Out of total global market of 30 billion dollars, the Indian domestic market will touch six billion dollars by 2012,'' ICRA Management Consulting Services Ltd (IMaCS) Head (Energy Practice) Parag Sharma told reporters at a launch of consulting services for carbon management here.

He said, ''with an established track record of 14 years in consulting and a diversified client base various sectors and countries, consulting services in carbon management is a natural extension of IMaCS' energy practise.'' The firm will provide solutions to project developers from PDD to Carbon-Emission Reduction (CER) issuance, including assistance in sale of CERs.

Beside project developers, the company is targeting its consulting services in the carbon market to various kinds of buyers, including international and Indian financial institutions, carbon funds and insurance companies.

''We will also provide advice to government and regulatory authorities who are charged with framing policies for the energy and environment sectors,'' Mr Sharma said.

IMaCS Managing Director R Raghuttama Rao said currenty, Indian market does not have sufficient tools to assess and analyse risks associated with carbon credit delivery and asset quality for emission reduction projects.

''We aim to redress this vacuuum and has been designed to enable primary investors or secondary purchasers to manage the complex issues while investing in the Clean Development Mechanism (CDM) markets,'' he said.

The firm expects to earn four to five crore throught this venture by 2012.

UNI MP AK HS1632