Carbon Market in India 2010 - Road Ahead and Appendix

Carbon Market – 2010 (Part III)
May 2010
Executive Summary
Global warming is the increase in the average temperature (15 C) of earth’s surface due to
o
increasing concentration of CO2 in the atmosphere

To fight climate change, Kyoto Protocol was formed under the UNFCCC with an objective to
Global
reduce carbon emission by an average of 5.2% below 1990 level between 2008-2012
Warming and
Three mechanisms were adopted to reduce emissions
Initiatives
– Clean Development Mechanism (CDM)
– Joint Implementation (JI)
– International Emission Trading (IET)
Global emissions trading is expected to achieve yearly turnover of INR 89.26 tr by 2020
– EU Emissions Trading will be the largest carbon market, accounting for 64% of all transactions by volume
India adopted CDM and is expected to generated 573 mn CER by the year 2012
– CDM projects are typically handled by consultants, from implementation to issuance of carbon credit
Carbon Market
Major Domestic Consultants Major Foreign Consultants
Mitcon Zenith Energy
Emergent Ventures Deloitte Touche PricewaterhouseC
Consultancy Services Pvt. Cantor CO2e Ltd.
India Pvt. Ltd. Tohmatsu oopers Int. Ltd.
service Ltd Ltd.
Copenhagen accord was organized keeping in mind the expiry of Kyoto in 2012
– Countries had submitted their emission targets for 2020 along with the acceptance of the formation of the
Road Ahead “Copenhagen Green Fund”
Mechanism to mobilize funds to reduce emissions from deforestation and degradation (REDD)
CARBON MARKET IN INDIA 2010.PPT 2

•Global Warming
•Global Initiatives
Kyoto Protocol
Voluntary Market
•Carbon Market – Global
•Carbon Market – India
CDM Projects
Regulatory Body
Carbon Trading
Carbon Consulting Market
•Road Ahead
•Appendix
Increasing greenhouse gas emission in the atmosphere is
leading to global warming
Global warming is the increase in the average temperature of Earth's near-surface, air and oceans
• Since 1850, fossil fuel combustion has released about 406 Giga tones of carbon (GtC) of which
180 GtC is left in the atmosphere, while the rest is absorbed by vegetation and oceans
Cause • Change in land, converting forests to urban centers (deforestation), has altered the climate
system
• Variation in solar output (from the sun) and CO2 emitted by volcanic eruption has also lead to
increase in CO2 concentration in the atmosphere
• Atmospheric concentrations of CO2 (379ppm) and CH4 (1774ppb) in 2005 exceeded far beyond
Outcome the natural range over the last 0.65 mn years
• Contribution of India to the cumulative global CO2 emissions in 2008 was 479 mn mt
• Global Greenhouse gas (GHG) emissions will increase by 25% to 90% (CO2-eq) between 2000 and
2030
• Temperature is expected to increase by about 0.2°C per decade
Possible 20-30% of species will extinct if temperature exceeds 1.5 – 2.5 °C.
Effects • Global sea level rise has increased from 0.8 mm per year in the 1990s to 1.2 mm per year in 2010
• These irregularities in the climate will have a detrimental effect on crop cultivation affecting
mankind at large
Source: Times Of India “Climate-change-far-worse-than-thought-before”, Jan 2010

•Global Warming
Kyoto Protocol
Voluntary Market
CDM Projects
Regulatory Body
Carbon Trading
•Road Ahead
•Appendix
UNFCCC has taken various steps towards drafting and
implementation of the Kyoto Protocol Kyoto VER
To tackle the problem of global warming, United Nations Framework Convention on Climate Change (UNFCCC or FCCC) -
an international environmental treaty - was formed at the United Nations Conference on Environment and Development
(UNCED), informally known as the Earth Summit, held in Rio de Janeiro from 3 to 14 June 1992
UNFCCC came Marrakesh Accords Stem Report Bali road map Copenhagen
into force for Kyoto Published adopted Denmark
Mar ‘94 Dec ‘97 Nov ‘01 Feb ‘05 Oct ‘06 Nov ‘07 Dec ’07 Apr ‘08 Dec ‘09 Post ‘12
Kyoto Protocol First commitment 4th PCC Assessment 1st round of New international
Adopted of Kyoto Protocol Report Bali climate change Agreement
Kyoto
Kyoto Protocol
Protocol framed
framed by
by UNFCCC
UNFCCC has
has aa tenure
tenure only
only for
for the
the period
period 2008-
2008- 2012
2012
Source: UNFCC

Kyoto Protocol is the fundamental international agreement
governing the global carbon market Kyoto VER
Kyoto Protocol was adopted in December 1997 at the 3rd session of UNFCCC
• Reduce the GHG emission of the industrialized countries by an average of 5.2%

below 1990 level between 2008-2012
Objective Goal is to reduce emission of six green house gases: Carbon dioxide (CO2), Methane (CH4),
Nitrous oxide (N2O), Hydro fluorocarbons (HFCs), Per fluorocarbons (PFCs), Sulphur
hexafluoride (SF6)
Annex 1 Countries Annex 1 Countries

• Developed countries are principally
responsible for the current high • Non-Industrialized or developing
levels of GHG emissions countries do not have any emission
Due to industrial activity from last reduction target as they are not
Member 150 years
Protocol places a heavier burden
responsible for GHG emission
Countries • 151 developing countries have
on developed nations
• 41 developed countries have signed signed the protocol and are termed
the protocol and are termed as as Non-Annex 1 countries
Annex 1 Countries Some of them include China, India,
Brazil, Korea
Some of them include United
Kingdom, Japan, Germany
Largest
Largest GHG
GHG emitter,
emitter, USA,
USA, has
has not
not yet
yet ratified
ratified the
the Kyoto
Kyoto Protocol
Protocol
Source: UNFCC

Emission target for Annex 1 and Non Annex 1 countries
defined under Kyoto protocol Kyoto VER
Iceland +1%
+10% Norway
Canada
-6% UK Poland
Germany -6%
-12.5%
USA **
All EU Countries * Japan
-7% -21% and Bulgaria, Monaco, China***
Romania, Switzerland +/- -6%
-8%
India***
+/-
South Africa***
+/-
Brazil***
+/- +8%
Australia**
Where to reduce emission till 2012 Where an increase of emission is permitted till 2012
* The EU countries have redistributed their reduction commitments in a so-called burden – sharing commitment
** Not yet ratified the protocol
*** No restrictions under the Kyoto Protocol
Source: UNFCC

Mechanisms to assist green investment to meet emission
targets in a cost-effective way under Kyoto Kyoto VER
Joint Implementation Clean Development Mechanism International Emission Trading

Kyoto Protocol : Article 6 Kyoto Protocol : Article 12 Kyoto Protocol : Article 17
• An investment proposition between two • Developed country can invest in a GHG • A signatory country with accrued
Annex-1 countries mitigation project in a developing quantified and certified GHG reduction
country. Developed country would get can trade in the international carbon
• Both invest in GHG reduction projects
credit while developing country would credit market
and share the carbon credits
get capital and clean technology
Industrialized Industrialized Industrialized Developing Industrialized Industrialized

Country A Fund/ Country B Country A Fund/ Country B Country A Fund/ Country B
Technology Technology Technology
Joint Certified Emission
Emission Emission above
Reduction Reduction committed
Project Project level
Amount Amount Emission

ERUs CERs
Reduced Reduced credit
ERU issued starting 2008 Credit Issued for emission reduced in More widely practised starting in 2008
2000 and onward
Note: CER – Certified Emission Reduction, ERU – Emission Reduction Unit
Source: UNFCC

Voluntary Emission Reduction is the emerging market for
carbon credits outside the Kyoto Protocol compliance Kyoto VER
Voluntary Emission Reduction Growth in VERs Deal Volume-wise

• Countries not having emission targets are also
voluntarily involved in carbon reduction through a Mt CO2
mechanism called voluntary emission reduction 500 476
+12%
(VER) 400 347
• In 2008, total size of global voluntary carbon market 300 257
was estimated at around INR 28-30 bn and reduced 200 123
drastically to INR 9.3 - 11.6 bn in 2009 100
• Standards that define the requirements for VERs 0
Voluntary Carbon Standard (VCS) 2008 2012e 2015e 2020e
Climate Action Reserve (CAR)
Gold Standard Share of VERs in Exchange and OTC
Climate Change and Biodiversity Standards (CCBS) which
was developed by non-profit organizations, used to
evaluate forestry projects
New standard, the VER+ recently been launched by TUV
SUD, an entity accredited by the UNFCCC
Over the Counter 44%
• VER deals from India were mainly taking place in the
renewable energy space 56% Chicago Climate
Exchange
Deals in the order of 30,000 units, have been entered into
with US buyers
VERs have been trading in the range of INR 95.6 - 191.52
per unit
Source: Times Of India “Voluntary carbon market hotting up”, Feb 2010 ; TFS Green “voluntary emissions reductions”

•Global Warming
Kyoto Protocol
Voluntary Market
CDM Projects
Regulatory Body
Carbon Trading
•Road Ahead
•Appendix
Global carbon market is growing steadily with increasing
contribution from European market and RGGI
Global Carbon Market World Carbon Credit Market
•Global emissions trading is expected to INR tr +11%
achieve yearly turnover of INR 89.26 tr by 7.59
8
2020 6.18 6.49
6
European Union carbon prices are trading around
INR 818.9 per tones 4
EU Emissions Trading Scheme (ETS) will be the 2

largest carbon market, accounting for 64% of 0
all transactions by volume 2008 2009 2010
Price of European Union Allowances is expects to
reach 1065.6 INR per ton, compared with the European Emission Trading Market
current price of 767.2 INR per ton
•Biggest growth in carbon market in 2010 is INR tr +25%
5.98
expected to come from the United States 6
4.77
“Regional Greenhouse Gas Initiative (RGGI)”
4
Expected to reach 985 mn tons of CO2 in 2010
Estimated value of the market is INR 102.2 bn, a 2
jump of 29% from 2009
Market will capture 12% of the world’s global 0
carbon market in 2010 2009 2010
Source: Reuters ”Hopes for $2 trillion global carbon market fade”, Mar 2010; NY Times “Carbon market could grow 33% this year”

Joint Implementation Mechanism under Kyoto protocol is
applicable only to Annex 1 European union countries
Joint Implementation Number of JI Project (by type)
•Joint Implementation (JI) is established under
Article 6 of the Kyoto Protocol under the 3%
19% Fuel Switch
United Nations Framework Convention on 11%
HFCs, PFCs &
Climate Change (UNFCCC) N2O reduction
Enables Annex 1 countries to undertake CH4 reduction
investments in projects aimed at reducing GHGs 27% 40% Renewable
emissions Energy Efficiency
Investing country provides financial and/or
technical assistance to achieve cost-effective
greenhouse gas emission reductions Number of JI project (by country)
•To qualify as a JI activity, projects must satisfy
the following criteria:
Results in a reduction in emissions by sources 22% Russia
The participation of both Parties must be 37%
Ukraine
voluntary and approved by each Party 5% Czech Republic
It must act as a supplement to domestic actions to Poland
7%
reduce greenhouse gas emissions Bulgaria
13% Other
15%
Source: UNFCC; CDM Pipeline

India and China are major contributors to the Clean
Development Mechanism projects under the Kyoto Protocol
Clean Development Mechanism Projects under CDM
• Clean development mechanism project is Number of kCERs kCERs
Status
implemented only in a non annex 1 country CDM Project Issued (2012e)
CERs can only be sold by non-Annex 1 to Annex 1 country Registered 2,062 344,991 1,763,243
CERs is expected to grow by 11% to INR 1.3 tr by 2010
At Validation 2,712 306,898 970,395
• A project to qualify under CDM:
Must adopt newer technologies to save energy Requesting 194 31,691 101,969
Must transfer a portion of extra credit to the company of Total 4968 683,580 2,835,607
the developed countries
CERs until 2010 from Non-Annex 1 Country CERs until 2012 from Non-Annex 1 Country
China 9% China
21% India 5% India
Brazil Korea
4% Korea 19% Others
6% 58% Other
67%
12%
Source: CDM Pipeline; Business Green “Global carbon market worth”, Jan 2010

Global Registration Process for projects under Clean
Development Mechanism
Project
Identification
Project
Documentation
Construction
(PIN and POD)
Host Country Project Operation

Finding buyer POD Validation
Endorsement
Generation of
carbon credit
Contract with
buyer
Verification/
Certification by DOE
Registration
with UNFCC
Buyer pays project
PIN: Project Identification note UNFCCC/EB Issues CERs
PDD: Project Design Document proponent
DOE: Designated operational entity
Source: UNFCCC

Major dedicated environmental trading exchanges around
the world
Chicago
• Various regional initiatives, Switzerland
SOx / NOx trading • Centre for repatriating
London
• CCX, CCFE CERs into EU
•EU ETS
•ECX –largest exchange
•Climate Spot Exchange
New York Paris

• Green Futures • EU ETS
• Bluenext/Powernext
Mumbai
• MCX
• NCDEX
Singapore
• Asia Carbon
Exchange
Forthcoming
Forthcoming trading
trading exchanges
exchanges in
in Beijing,
Beijing, Tokyo
Tokyo and
and Middle
Middle East
East

•Global Warming
Kyoto Protocol
Voluntary Market
CDM Projects
Regulatory Body
Carbon Trading
•Road Ahead
•Appendix
India is the largest developer of CDM projects and provider
of CER to Annex 1 countries after China CDM Authority Trading Players
Indian Carbon market Projects under CDM

• India is second largest provider of CDM projects and Status Number kCERs Issued kCERs (2012e)
CERs to Annex 1 countries
Registered 489 41,562 246,104
India generated 573 mn CER by the year 2012
Total inflow by selling of CER is INR 255.7 bn by 2012 At Validation 751 67,634 193,535
• Out of total CDM project in India 74.59% are small Requesting 27 4,913 12,902
and rest are large CDM project
• India is also in trading of Carbon product through Total 1,267 114,109 452,543
India's Multi Commodity Exchange
Start Request Registration
It have share of at 15-35 % in global market by FY12
299 Days 119 Days
CDM Projects in India (by type) CDM projects in India (by state)
6%
18% 6% Uttar Pradesh
23% Biomass Energy Andhra Pradesh
EE Industry 35% 13% Karnataka
EE Own Generation Tamil Nadu
9%
Hydro Gujarat
30% 14%
10% Wind Maharashtra
Others 15% 11% Others
10%
Source: Helping Hand India “Conference-document” 2010; CDM Pipeline

Procedure for Submitting CDM Project Reports to the
National CDM Authority CDM Authority Trading Players
National CDM Authority act as single window clearance for CDM projects approval in India
Submission of PCN & PDD with 2CDs

NCDMA Composition and online submission to NCDMA
• Secretary, environment & Forests
(Chairperson)
Members
Circulation among NCDMA members NCDMA
• Foreign Secretary
meets once
• Finance secretary in a month
• Secretary, Department of Industrial
Policy and Promotion Presentation by Project Developer
• Secretary, Ministry of Non during NCDMA meeting 60 Days
Conventional Energy Sources
• Secretary, Ministry of Power
• Secretary, Planning Commission Clarification/ addition information
Joint Secretary( Climate Change), from Project Developer if required
Environment & Forest by NCDMA member
Member- secretary
• Director (climate change), MOEF
Host Country Approval Letter
Source: CDM India “host approval process”

Exchanges provide companies with better trading platform
and price discovery for CERs generated CDM Authority Trading Players
Carbon Credit trading in India

• Carbon credit transaction from India to annex 1 country is done mainly through over the counter (OTC) or exchanges
like MCX or NCDEX
• Consultant and individual broker like MF Global plays major role in bringing buyer and seller at common platform for
OTC type transaction for carbon credits from CDM project
OTC transaction lack in better price discovery, transparency in transaction and take longer lead time to finalize the deal
• CERs issued by UNFCCC for CDM projects in India are dematerialized and kept electronically with MCX or NCDEX for
trading. The seller gets a future contract according to the specification laid down by MCX or NCDEX
MCX has strategic alliance with Chicago Climate Exchange which helps in integrating Indian market with global market and better price
discovery by Indian CER supplier
Dematerialized CERs are send to European national registries from where carbon credit are delivered to the buyer
Major buyers through exchanges are financial investors who believe that inability of EU to meet their emission targets may lead to
increase in demand for CER through 2009 to 2012
Seller Clearing Buyer Clearing

Buyer
Seller Account Member MCX / NCDEX Member
Account
Account Account
Source: Live mint “Carbon credit futures trading”, Apr 2008; Commodity online “MCX launches Carbon Credits Futures” , Jan 2008; European Climate Exchange

International emission trading is followed in India through
Multi Commodity Exchange (MCX)… CDM Authority Trading Players
Overview Trading on the MCX

• Multi Commodity Exchange (MCX) is Asia's first Parameter CER CFI
commodity exchange for international emission
Trading Unit 250 tons 200 tons
trading
It entered into a strategic alliance with Chicago Climate Maximum Order Size 10000 tones
Exchange (CCX) in Sep 2005 to initiate trading Tick Size 50 paisa per tones
Launched futures trading in carbon credits from 21 Jan
2008 Daily Price Limit 5% 4%
• Two commodities are bought and sold through this Initial Margin 6%
exchange Maximum Allowable IC: 5 mn tones IC: 0.5 mn tones
Certified Emission Reduction (CER); Carbon Financial Position MC: 25mn or 25% of MC: Not > 25% of
Instruments (CFI) open position open position
MCX CER price MCX CFI price

USD/MT USD/MT
35 31.7 50 46.1
30
40
25
19.1 27.2
20 30 21.8
13.2
15 20
10
10
5
0 0
Jun- Jul- Aug- Sep- Oct- Nov Dec- Jan- Feb- Mar Apr- May Jun- Jul- Aug- Sep- Oct- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec-
08 08 08 08 08 -08 08 09 09 -09 09 -09 09 09 09 09 09 08 08 08 08 08 08 08 08 08 08 08 08
Note: F & O contracts based on the (CFI) issued by the Chicago Climate
Source: MCX India Exchange under a VER Scheme; 1 CFI = 100 metric tons of CO2e

… as well as the National Commodity & Derivatives
Exchange (NCDEX) CDM Authority Trading Players
Overview Trading on the NCDEX

• NCDEX is the 2nd exchange in the country setup by Parameter CERNCDEX
India, operative since 10th April 2008 Trading Unit
Government on 4 Jan, 2008 allowed to bring carbon One lot of 500 CER
Delivery unit
credits under the ambit of tradable commodities
Tick Size Rs. 0.20
• It serves to address the inefficiencies in the carbon
Daily Price Limit 4%
market by providing a price discovery and hedging
platform to the buyers and sellers of CERs Initial Margin 6%
Maximum Allowable IC: 11000 lot
• Physical delivery of CERs is also facilitated where
Position MC: 66000 lots or 15% of open position
specific delivery requirements of the buyers and
sellers are matched by the exchange for guaranteed NCDEX CERs Price
deliverable CERs
USD/MT
Matching of contract is provided through an OTC kind of
arrangement to the buyers and sellers for the physical 1,500
delivery of CERs 1,020.6
925.0
1,000
• Carbon credit futures’ trading at NCDEX is currently
at a nascent stage
500
It is expect that by 2011, it will compete with other global
exchanges both in terms of volume and value
0
Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb-
08 08 08 08 08 08 08 08 08 09 09
Note: IC – Individual Client, MC – Member Client
Source: Live mint “Carbon credit futures trading”, Apr 2008; NCDEX India

Major Indian Consultants (1/6)
CDM Authority Trading Players
Number ktCO2e
Project Investment
PDD Consultant Overview of Credit Buyer
(MWe) (USD mn) 2012 2020
Projects
Acclaim • Consultant for the largest 1 1 N.A. N.A. 35.3 89.3
Technology gasifier based power plant for
Services captive application
• Handled projects in various
capacities as technical
consultants, turnkey suppliers
and as CDM consultants
Amoda • Expertise to focuses on the 1 7.9 9.5 N.A. 65.4 146.8
Environmental major environmental sectors
Solutions • Offer services like, Project
feasibility and analysis,
Assistance with PDD
development, Risk analysis
and mitigation, Maximizing
returns on CER sales, Direct
purchase or third party sale of
CER's
Note:
1. Consultants listed above are on the basis of number of Registered Projects
2. The projects (MWe), investment, credit buyer and ktCO2E details are the aggregate of all the projects under a particular PDD (Project Document Design) consultant
Source: CDM Pipeline; Company Website

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
Asia Carbon • Introduced world's first CDM 5 84.5 51.6 • Switzerland 1840.4 2964.5
Emission based online trading platform • Japan
Management • Successfully carried out • United
IndiaPvt Ltd several online carbon trading Kingdom
events since Nov 2005 with
over 4.6 mn carbon credits
transacted
Banyan • Issuing CER’s or Carbon 1 0 1.3 N.A. 80.2 279.8
Environmental Credits on priority from their
Innovations Pvt projects’ portfolio
Ltd • Provide complete project
services up to implementation
of the project
Note:

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
Core CarbonX • Offer services in Kyoto market 1 0.5 1.18 N.A. 60.34 160.93
Solutions Pvt. as well as in the voluntary
Ltd. market
• Executed more than 50 CDM
projects
Emergent • Developed projects under 7 43.1 26.18 • United 4161.82 7307.29

Ventures India various carbon quantification Kingdom
Pvt. Ltd. standards for both compliance • Switzerland
and voluntary markets • Japan
• It provides monitoring and
verification support
throughout the credit period.
• EVI is also working in some of
the most complicated areas
such as Programmatic CDM
and Bus Rapid Transportation
Note:

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
J.M. EnviroNet • Provides service for carbon 1 1.9 2.87 N.A. 74.18 216.84
Pvt Ltd credit project
• It has successfully completed
more than 600 Environment
consultancy projects.
Mitcon • Consulting local, regional, 5 42.55 53.13 • United 757.33 1052.1
Consultancy national and global customers Kingdom
service Ltd in adopting energy efficient &
climate change mitigation
options
• Project are typically located in
Maharashtra and Karnataka
Note:

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
URs • Provides service like end to 2 479.0 12.4 • Sweden 7109.8 7302.4
Productively end back office, data • Switzerland
Systems & processing and support
Industrial services for all types of CDM
Engineering projects including Industrial
Consultants Energy Efficiency, Waste
Recycling, and Renewable
Energy Projects including
Waste to Energy and CDM in
Buildings.
Verve • Developing CDM projects in 1 7.5 75.9 251.2
Consulting Ltd India for the last 3 years and
consulting VER based on
different Voluntary Standards
• Currently assisting corporate
and PSUs for CDM projects in
the areas of renewable energy
and energy efficiency project
Note:

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
Zenith Energy • Offers service like awareness 34 376.1 427.1 • Germany 6096 12388
Services Pvt. generation, capacity building • Switzerland
Ltd. and selling of CERs • Japan
• Operating 10 projects in the • Sweden
field of Energy Efficiency and
Waste Heat recovery which
are in different stages of
registration
Note:

Sector-wise Projects for Domestic Consultants
Renewable Energy
Consultant Gas Miscellaneous Total
Energy Efficient
Acclaim Technology Services 1 1
Amoda Environmental Solutions 1 1
Asia Carbon Emission Management
4 1 5
IndiaPvt Ltd
Banyan Environmental Innovations Pvt
1 1
Ltd
Core CarbonX Solutions Pvt. Ltd. 1 1
Emergent Ventures India Pvt. Ltd. 4 1 1 1 7
J.M. EnviroNet Pvt Ltd 1 1
Mitcon Consultancy service Ltd 4 4
URs Productively Systems & Industrial
2 2
Engineering Consultants
Verve Consulting Ltd 1 1
Zenith Energy Services Pvt. Ltd. 34 34
Note: Renewable Energy: Biomass Energy, Wind, Hydro, Solar; Energy Efficient Project: EE own generation, EE industry, EE supply side, EE Service; GHG reduction:
Methane Avoidance, HFCs, PFCs, SF6; Miscellaneous: Land Fill Gas, Fossil Fuel Switch, Transport, Cement, Afforestation, Deforestation;
Consultants listed above are for Registered projects
Source: CDM Pipeline

Major Foreign Consultants (1/6)
Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
Agrinergy • Focus on the CDM projects 23 198 122.4 • United 14434 19099
Consultancy • Provides service to companies Kingdom
Pvt. Ltd. in industrialized countries • Switzerland
with an end-to-end solution • Austria
from identifying and
registering climate change
projects
CantorCO2e • Global provider of financial 2 0 4.7 • United 151 360
Ltd. services to the world’s Kingdom
environmental and energy
markets
• Serves principal emissions
markets, including the Kyoto
markets, USA compliance and
VER market
Note:

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
Clean Air Action • Helps communities and 1 0 0 • United 34 61
Corporation businesses clean up the air Kingdom
sooner and at lower cost.
• Provide service to agencies to
establish environmental
incentive programs, air
registries, and clean air
investment funds that are
self-funding after the first year
Deloitte Touche • Assists clients in identifying 3 0 0 • United 15988 28366
Tohmatsu risks and opportunities Kingdom
related to climate change • Japan
• Assessing impact and risks, • Switzerland
Evaluating risks, developing • France
approaches for treating risks
Note:

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
EcoSecurities • World's largest developers 2 13 11 • United 623 1311
Group Plc. and suppliers of emission Kingdom
reductions unit for both the • Switzerland
compliance and VER markets
• Services include like creating
ERU’s, Revenue Generation,
Project Development and
Buying Carbon Emission
First Climate • Act as investment advisor to 1 0 0 • Germany 4 8
AG the Post 2012 Carbon Credit
Fund established by the
European Investment Bank
• Executes trades and offers
customized trading products
subject to the EU ETS and
other emission trading
schemes
Note:

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
OneCarbon • It plays a key role in reducing 1 0 0 • Netherland 95 301
International carbon emissions either by
B.V. providing consultancy to
project owners or by investing
in and managing our own
projects
• It has one of the largest
portfolios of Gold Standard
projects
PWC • Service includes like Strategy 50 1159. 821.2 • United 88711 136673
formulation, Carbon finance 5 Kingdom
and transactions, CDM and JI • Switzerland
PDD, Carbon risk management • Germany
and health check, GHG data
management, reporting, and • Italy
verification, Public policy and • France
delivery
Note:

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
Perspectives • Provides service to both to 2 0 6.3 • Germany 245 709
Climate Change policy makers in analyzing
existing systems and
developing them further, and
to the industry in adapting to
new legislative frameworks
and its optimization
• Wide network in industry,
climate policy, science and
NGOs helps us to identify best
buyer and seller
Quality Tonnes • Helps projects get accredited 1 7.5 N.A. N.A. 384 704
for sale in the international
carbon market,
• Developed Innovative
methane reduction in the gas
sector and improved
appliance efficiency
Note:

Number ktCO2e
Project Investment
(MWe) (USD mn) 2012 2020
Projects
South pole • Enable the implementation 2 19.7 4.3 • Switzerland 773 2333
Carbon asset and operation of high-quality
management projects that reduce
Ltd greenhouse gases in 20
countries.
• Provides emission reduction
credit like Gold Standard CDM
credits, Gold Standard VER
credits, VCU credits, CCBS
Forestry credits
Snowy • Provides services like carbon 3 170.8 247.7 N.A. 2426 8345
Mountains reduction strategies,
Engineering registration of CDM and JI
Corporation projects, transaction of carbon
based credits and permits,
assessment of climate change
impacts and the development
of adaptation strategies
Note:

Sector-wise Projects for Foreign Consultants
Renewable Energy
Consultant Gas Miscellaneous Total
Energy Efficient
Agrinergy Consultancy Pvt. Ltd. 17 3 3 23
CantorCO2e Ltd. 2 2
Clean Air Action Corporation 1 1
Deloitte Touche Tohmatsu 1 1 1 3
EcoSecurities Group Plc. 2 2
First Climate AG 1 1
OneCarbon International B.V. 1 1
PricewaterhouseCoopers Int. Ltd. 19 17 6 8 50
Perspectives Climate Change 2 2
Quality Tonnes 1 1
South pole Carbon asset management Ltd 2 2
Snowy Mountains Engineering
3 3
Corporation (SMEC)
Note: Renewable Energy: Biomass Energy, Wind, Hydro, Solar; Energy Efficient Project: EE own generation, EE industry, EE supply side, EE Service; GHG reduction:
Methane Avoidance, HFCs, PFCs, SF6; Miscellaneous: Land Fill Gas, Fossil Fuel Switch, Transport, Cement, Afforestation, Deforestation;
Consultants listed above are for Registered projects
Source: CDM Pipeline

•Global Warming
Kyoto Protocol
Voluntary Market
CDM Projects
Regulatory Body
Carbon Trading
•Road Ahead
•Appendix
Copenhagen accord was to develop a framework on climate
change after the expiry of the Kyoto Protocol
Copenhagen Accord
• Copenhagen accord is required to be implemented by 2015, with consideration of a 1.5

deg C temperature target
• Developed countries will provide financial and technical support to developing countries
• Annex 1 parties will cut emission by 2020 with targets submitted to the UNFCCC by 31 Jan
2010
Objectives • Commitment by developed countries to provide INR 1.35 tr in short-term financing
between 2010 and 2012 and to mobilize INR 4.5 tr per annum by 2020.
• Establish a ‘Copenhagen Green Fund’ which will receive a significant proportion of the
above finance flows
• Mechanism to mobilize funds to reduce emissions from deforestation and degradation
(REDD)
Emission Target by 2020 accepted in Copenhagen Dec 2009
Categories Countries Emission Reduction Targets Base year
Copenhagen accord has not set EU 20–30% 1990

Annex 1
out any emission reduction USA 17% (30% by 2025) 2005
targets ; it has asked countries
to submit their targets for India 20–25% by 2020 2005
Non Annex 1
2020 China 40–45% by 2020 2005
Source: UNFCC; Petrolog “Some-points-for-Copenhagen”

•Global Warming
Kyoto Protocol
Voluntary Market
CDM Projects
Regulatory Body
Carbon Trading
•Road Ahead
•Appendix
Appendix I: Other Indian Consultants (1/11)
Number ktCO2e
Projects Investment
PDD Consultant of Credit buyer
(MWe) (USD mn) 2012 2020
Project
Aban Power Company 1 119.8 111.64 United Kingdom 1268.07 1811.53
ACC 1 9 15.18 N.A. 76.90 231.21
Acme Tele Power 1 0 0.57 N.A. 310.91 690.61
Adani Power 1 2640 2774.41 N.A. 4321.40 30332.84
Agri Gold Projects 1 6 0 Switzerland 236.45 435.52
Alwar Power Company 1 7.5 0 Austria 274.18 600.96
AL-Wind Energy 1 56.25 53.27 Switzerland, United Kingdom 506.3 883.89
Ambika Solvex 1 1.2 0 N.A. 124.02 251.40
Ambuthirtha Power Private 1 22 0 Japan 486.95 957.95
AML Steel & Power 1 11 0 N.A. 269.10 578.72
Amrit Environmental Technologies, Ernst & Young 1 7.5 0 United Kingdom 221.46 504.35
Andhra Pradesh Paper Mills 2 0 0 Switzerland 199.5 370.25
Anil Products 1 0 0 N.A. 36.75 96.09
Ansal Properties & Infrastructure 1 12 18.41 N.A. 73.43 216.99
APITCO 1 9 7.37 United Kingdom, Switzerland 423.8 423.8
Apollo Tyres 1 0 0 United Kingdom 187.43 234.29
Auro Mira Bio Energy Madurai 1 10 10.93 N.A. 179.19 582.91
Bannari Amman Group 1 20 0 N.A. 295.12 721.5
Source: CDM Pipeline; Company Website Note: List based on Registered Projects. The list also includes companies as PDD consultants for their internal CDM projects

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
Belgaum Wind Farms 1 24.8 36.38 Denmark 183.71 600.04
Bhageshwari Papers 1 6 0 N.A. 145.38 376.62
Bhagyodaya Agencies 1 3 4.22 N.A. 31.39 57.93
Bharat Electronics 1 2.5 3.56 N.A. 27.62 53.60
Bharat Petroleum Corporation 1 5 6.54 N.A. 175.73 365.09
Binani Cement 2 0 0 Germany 338.4 343.9
Birla 2 0 7.63 N.A. 293.95 310
Sweden, Switzerland, France, United
CARE Sustainability 2 16 6.48 930.23 997.4
Kingdom
CEED 1 6 0 Sweden 561.69 1217.31
CESC 2 0 1.12 United Kingdom 319 359
Chambal Power 1 7.5 0 United Kingdom, Switzerland 343.73 747.18
Chandigarh Distillers and Bottlers 1 8.25 0 Switzerland 131.94 278.94
Chirchind Hydro Power 1 5 8.80 N.A. 53.63 188.66
Clarion Power Corporation 1 12 0 United Kingdom 233.40 443.69
Claris Lifesciences 1 0 2.52 N.A. 263.48 682.95
Coolie Sangha 1 0 0 N.A. 128.57 471.64
Dalmia Cement Bharat 1 0 0 N.A. 232.34 326.58

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
Decentralised Energy Systems 1 5.15 0 N.A. 106.10 431.96
Deepak Fertilisers 1 10 15.88 N.A. 51 143
Delhi Metro Rail 1 0 54.12 Japan 205.80 411.60
DLF 2 161 227.6 N.A. 1190 3891.01
Dodson-Lindblom Hydro Power 2 46 30.2 Netherlands 402 739
DSL Hydrowatt 1 4.5 9.7 N.A. 84 234
Durgapur Cement Works 1 0 0 N.A. 26.46 26.45
Dwarikesh Sugar Industries 2 60 5.3 N.A. 515 1023
East Delhi Waste Processing Company 1 10 34.49 N.A. 242.59 1119.49
EID Parry 1 18.55 0 N.A. 458.41 866.23
Essar Group 1 0 0 N.A. 656 1358
Fairdeal Supplies Private 1 9.9 12.7 N.A. 134 240
Fresenius Kabi India Private 1 0 0 N.A. 30.06 65.58
Gadre Marine Export 1 1.5 2 N.A. 16 37
Ganpati sugar Industries 1 10.5 0 United Kingdom 339.86 874.47
GAPS Power & Infrastructure 1 13 15 N.A. 395.14 667.85
Garg Casteels 1 2.2 0 N.A. 30.93 75.56
Gautam Freight Private 1 12 17.29 N.A. 77.23 216.99

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
Gayatri Agro Industrial Power 1 6 0 United Kingdom, Switzerland 237.38 237.38
GMR Industries 1 1 1.7 United Kingdom 280 638
Godavari Sugar Mills 1 24 0 Netherlands 597.79 597.79
Sweden, Netherlands, United
Godavari Power and Ispat 1 0 0 Kingdom 178.28 178.28
Godrej Agrovet 1 11.25 0.48 N.A. 107 164
Grasim Industries 2 0 0 Germany, United Kingdom 528 671
Greenply Industries 1 0 0 United Kingdom 100 175
Gujarat Fluorochemicals 1 23.1 41.32 N.A. 236.58 650.81
Gujarat Paguthan Energy Corporation 1 50.4 67.76 N.A. 308.55 1071.73
Gupta Exim 1 3 4.02 N.A. 254.15 529.81
H&R Johnson (India) 2 0 1.5 N.A. 205 443
Hanuman Agro Industries 1 2.5 3.10 N.A. 137.41 402.69
Hassan Biomass Power 1 8 6.22 N.A. 285.84 631.46
Him Kailash Hydro Power Private Limited 1 5 7.20 N.A. 57.95 164.57
Himalayan Crest Power 1 9 4.32 Germany 294.45 392.60
Hindustan Unilever 1 0 0 N.A. 80.81 146.92
Hindustan Zinc 3 132.6 152.7 United Kingdom 1186 2876
Hi-Tech Carbon 1 25.2 0 N.A. 324.34 873.05

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
ICRA Management Consulting Services 1 3.3 5.85 N.A. 22 73
IL&FS Ecosmart 5 3 25.8 Spain 1086 3615
Ind-Barath Energies 1 6 5.07 United Kingdom, Switzerland 250.22 250.22
India Sucrose 1 12 0 N.A. 61.96 106.27
Indian Farmers Fertilisers Cooperative 2 0 5.8 Spain, Japan 2585 4819
Indian Petrochemicals Corporation 1 0 36.9 N.A. 81 106
Indian Rayon and Industries 2 0 0 United Kingdom 83.70 88.18
Indian Seamless Metal Tube 1 0 0 N.A. 42.63 69.12
Indo Gulf Fertilisers 6 0 0 United Kingdom, Switzerland 585 852
Indo Rama 1 8.5 0 United Kingdom, Switzerland 277 647
Indowind Energy 1 12.3 13.1 Switzerland 101 242
Jai Balaji Sponge 1 0 0 N.A. 313.11 463.87
Jalkheri Power Private 1 10 0 Switzerland 302.77 302.77
Jamkhandi Sugar 1 12.3 0 Switzerland 147.21 147.20
Jindal Steel & Power 3 25 0 N.A. 3284 5329
JK Cement 1 0 0 N.A. 1435 2539
K.M. Power 1 11.3 0 United Kingdom, Japan 211.98 211.98
Kalindi Power & Steel 1 8 7.44 N.A. 184.62 432.19

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
Kalpatura Energy Ventures, Ernst & Young 1 8 0 N.A. 302.54 640.04
Kamachi Sponge & Power Corporation 1 10 12.21 N.A. 214.55 429.10
KCP Sugar Industries 2 8 6.3 N.A. 86 199

Kerala Ceramics 1 0 0 N.A. 21 56
KMS Power Private 1 6 0 Sweden, Germany 203.32 300.18
Kohinoor Steel 1 10 0 N.A. 258 708
Konark Power Project 1 7.5 2.57 Germany 195.75 361.39
Kotla Hydro Power 1 3.75 0 United Kingdom 195.70 230.24
KR Pulp & Papers 1 7.5 0 N.A. 176 708
KRBL 1 3.5 4.83 N.A. 81.79 177.81
Krishi Rasayan 1 0 0.53 N.A. 85.71 234.31
KS Oil 1 8.5 15.2 N.A. 62 167
Lanco Infratech 2 13 16.7 N.A. 132 339
Lanxess India 1 0 0 United Kingdom 59.22 72.52
Lloyd Insulations 1 0 14.79 N.A. 68.81 214.82
Lloyds Steel Industries 1 11.5 13.2 N.A. 316 546
Mahalaxmi Group 1 0 0 N.A. 162.66 441.43
Mahendra Sponge & Power 2 8 8.14 N.A. 204.26 383.01

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
Malu Paper Mills 1 6 0 N.A. 348.04 735.82
Malwa Power Private 1 7.5 6.18 United Kingdom, Germany 347.81 438.54
Matrix Power 1 4.5 0 United Kingdom, Switzerland 274.78 419.27
Spain, Sweden, United Kingdom,
Mawana Sugars 4 75.1 0 1015.55 1737.85
Switzerland, Germany
Monnet Ispat 1 0 0 United Kingdom 828.68 1183.83
MSPl 2 141 0 Switzerland, United Kingdom 2557.67 3123.37
Mysore Mercantile Co. 1 7.2 9.50 Japan 74.11 143.34
Nagarjuna Fertilizers and Chemicals 1 0 1.27 N.A. 33.88 89.27
Nahar Spinning Mills 3 12 0 Germany 541.96 893.54
NATL Power 1 4.05 4.78 United Kingdom, Switzerland 83.57 83.57
NEG Micon India 6 114.2 124.35 N.A. 1252.08 1830.83
Neora Hydro 1 3 3.28 N.A. 67.64 128.10
Numaligarh Refinery 1 12 7.63 N.A. 171.02 418.85
OCL India 3 8 0 Switzerland 768.37 873.99
Oil India 1 0 3.98 N.A. 185.79 530.82
Orissa Sponge Iron 1 0 0 United Kingdom, Switzerland 410.52 410.52
Paschim Hydro Energy 1 9 4.51 Switzerland 148.05 405.34
Patikari Power Private 1 16 0 United Kingdom 290.47 585.83

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
Patspin India 1 5.8 8.70 United Kingdom 52.61 129.75
Pfizer 1 0 0 N.A. 35.64 61.98
Priyata Intercontinental 1 3.75 4.80 N.A. 37.88 68.88
Punjab Hydro Power 1 4.2 0 United Kingdom 201.43 210.26
Pushpit Steels Private 1 4 4.79 N.A. 41.72 81.40
Raghu Rama Renewable Energy 1 18 0 Sweden, United Kingdom 552.47 668.20
Raj Infrastructure Development 1 2.5 4 N.A. 14 39
Rajaram Maize Products 1 0 0 N.A. 25.73 46.09
Rajasthan State Mines and Minerals 1 15 19.66 N.A. 81.31 278.58
Rama Paper Mills 1 6 6.48 Germany 132.99 331.27
Ramsarup Group 1 20 0 N.A. 606.03 1528.03
Rana Sugars 1 12 0 N.A. 285.17 462.55
Rashtriya Chemicals & Fertilizers 2 0 2.42 N.A. 4177.29 14982.41
Ratnamani Metals and Tubes 1 13.25 19.05 N.A. 90.33 239.60
Recron Synthetics 1 0 0 N.A. 31.57 54.91
Reliance Industries 3 0 0 France 546 704
Reliance Innoventures 1 45 73.2 N.A. 317 809
Rithwik power projects 2 30 24.81 United Kingdom, Switzerland 335.14 881.10
Rourkela Steel Plant 1 0 3.02 N.A. 46.95 85.36

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
RS India Wind Energy 1 99.45 160.81 N.A. 573.45 1779.80
Rukmani Power & Steel 1 10 0 N.A. 369.11 899.57
Sajjan India 1 0 0 N.A. 119.47 249.47
Sandur Power Company 1 22.5 0 N.A. 580.63 1003.86
Saraswati Power & Industries 1 2 3.56 N.A. 37.13 63.66
Satia Paper Mills 1 5 0 Switzerland 129.94 225.98
Satyamaharshi Power Corporation 1 6 0 France, Switzerland 195.23 377.88
SCM Sugars 1 26 27.46 Sweden, Switzerland 342.09 402.46
United Kingdom, Italy, Switzerland,
Senergy Global 17 162.2 199.6 1964 2824
Japan
SESA 1 30 0 Switzerland 617.96 1123.57
Shah Promoters & Developers 1 14 20.01 N.A. 75.18 210.94
Shahi Exports 1 8.75 11.12 N.A. 92.43 170.63
Shalivahana Projects 2 16 10.43 Germany 462.67 709.44
Shree Bhawani Paper Mills 2 6 0.00 United Kingdom, Belgium 223.24 287.38
Shree Cement 2 0 0 United Kingdom, Germany 1403 1751
Shreyans Industries 1 0 0 N.A. 72.83 125.78
Shri Bajrang Power and Ispat 1 8 10.06 N.A. 160.30 462.32
Shri Renuga Textiles 1 4.5 0 United Kingdom 179.16 193.69

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
Shriram Energy Systems 1 6 11.66 Switzerland 569.99 645.99
Siddeshwari Industries 1 0 1.56 N.A. 67.16 209.81
SKS Ispat 1 25 22.00 N.A. 700.64 1167.73
Sree Rayalaseema 1 6 0 Sweden, Germany 208.06 208.06
SRF 1 13.95 21.77 N.A. 130.09 348.86
Sweden, Switzerland, United
Sri Balaji Biomass Power 1 6 0 217.28 449.53
Kingdom, Germany
Sri Chamundeswari Sugars 1 7 0.85 N.A. 144.58 344.24
Sri Guruprabha Power 1 10 10.63 N.A. 155.36 391.62
Sri Indra Power Energies 1 6 0 United Kingdom, Switzerland 142.55 178.68
Italy, Switzerland, Netherlands,
Sri Kalyani Agro Products & Industries 1 4 0 144.52 144.52
United Kingdom
Sterlite Industries 1 11.2 13.85 N.A. 55.73 180.82
Subhash Kabini Power Corporation 1 20 0 United Kingdom, Switzerland 393.47 449.68
Subhashri Bioenergies 1 3.76 6.28 N.A. 213.77 558.58
Sukhbir Agro Energy 1 15 16.14 N.A. 199.56 672.59
Surana Corporation, Vayu Energy 1 5.1 7.67 United Kingdom 45.33 117.00
Swasti power engineering 1 22.5 0 N.A. 623.94 1093.04
Tamil Nadu Newsprint and Papers 1 0 1.14 Netherlands 337.80 358.60

Number ktCO2e
Projects Investment
(MWe) (USD mn) 2012 2020
Project
Tata 5 9 10.2 United Kingdom 654 1045
TERI 2 7.525 2.91 Netherlands, United Kingdom 671.92 689.15
Timarpur Waste Management Company 1 16 40.72 N.A. 407.43 2627.91
Torrent Power 1 1147.5 787.31 Germany 15151.09 31897.04
Triveni Engineering and Industries 2 45 0 Switzerland 1261.96 1722.78
UltraTech Cement 2 4 7.63 United Kingdom 518.93 587.09
Upper Ganges Sugar Industries 1 24 0 N.A. 464.29 797.23
Usha Martin 1 0 0 United Kingdom, Switzerland 439.07 543.40
Varam Power Projects 1 6 7.45 United Kingdom 223.77 223.77
Vicram Cement 1 0 0 N.A. 343.32 867.72
Vikash Metal and Power 1 10 0 N.A. 291.75 733.62
Vikram Cement 1 0 0 N.A. 180.31 209.49
Vindyachal Hydro Power 1 6 0 Sweden, Netherlands, Germany 141.82 191.32
Viyyat Power Private 1 3 3.82 N.A. 36.27 101.31
VRL Logistics 1 42.5 72.45 N.A. 344.91 912.94
WB-CF 3 192 0.28 Austria, Belgium, Canada, Italy, 2450.46 5159.50
Winrock 1 29.7 53.9 N.A. 363 882
Women for Sustainable Development 2 0.54 0 France, Switzerland 195.21 491.04
Yash Papers 1 6 11.19 Belgium 200.53 468.18

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Carbon Market – 2010 (Part III)

increasing concentration of CO2 in the atmosphere

CARBON MARKET IN INDIA 2010.PPT 2

Source: Times Of India “Climate-change-far-worse-than-thought-before”, Jan 2010

CARBON MARKET IN INDIA 2010.PPT 4

CARBON MARKET IN INDIA 2010.PPT 6

• Reduce the GHG emission of the industrialized countries by an average of 5.2%

Annex 1 Countries Annex 1 Countries

CARBON MARKET IN INDIA 2010.PPT 7

CARBON MARKET IN INDIA 2010.PPT 8

Joint Implementation Clean Development Mechanism International Emission Trading

Industrialized Industrialized Industrialized Developing Industrialized Industrialized

Amount Amount Emission

CARBON MARKET IN INDIA 2010.PPT 9

Voluntary Emission Reduction Growth in VERs Deal Volume-wise

CARBON MARKET IN INDIA 2010.PPT 10

EU Emissions Trading Scheme (ETS) will be the 2

CARBON MARKET IN INDIA 2010.PPT 12

Source: UNFCC; CDM Pipeline

CARBON MARKET IN INDIA 2010.PPT 13

CARBON MARKET IN INDIA 2010.PPT 14

Host Country Project Operation

CARBON MARKET IN INDIA 2010.PPT 15

New York Paris

CARBON MARKET IN INDIA 2010.PPT 16

Indian Carbon market Projects under CDM

Source: Helping Hand India “Conference-document” 2010; CDM Pipeline

CARBON MARKET IN INDIA 2010.PPT 18

Submission of PCN & PDD with 2CDs

Source: CDM India “host approval process”

CARBON MARKET IN INDIA 2010.PPT 19

Carbon Credit trading in India

Seller Clearing Buyer Clearing

CARBON MARKET IN INDIA 2010.PPT 20

Overview Trading on the MCX

MCX CER price MCX CFI price

CARBON MARKET IN INDIA 2010.PPT 21

Overview Trading on the NCDEX

CARBON MARKET IN INDIA 2010.PPT 22

CARBON MARKET IN INDIA 2010.PPT 23

CARBON MARKET IN INDIA 2010.PPT 24

Emergent • Developed projects under 7 43.1 26.18 • United 4161.82 7307.29

CARBON MARKET IN INDIA 2010.PPT 25

CARBON MARKET IN INDIA 2010.PPT 26

CARBON MARKET IN INDIA 2010.PPT 27

CARBON MARKET IN INDIA 2010.PPT 28

CARBON MARKET IN INDIA 2010.PPT 29

CARBON MARKET IN INDIA 2010.PPT 30

CARBON MARKET IN INDIA 2010.PPT 31

CARBON MARKET IN INDIA 2010.PPT 32

CARBON MARKET IN INDIA 2010.PPT 33

CARBON MARKET IN INDIA 2010.PPT 34

CARBON MARKET IN INDIA 2010.PPT 35

CARBON MARKET IN INDIA 2010.PPT 36

• Copenhagen accord is required to be implemented by 2015, with consideration of a 1.5

Emission Target by 2020 accepted in Copenhagen Dec 2009

Categories Countries Emission Reduction Targets Base year

Copenhagen accord has not set EU 20–30% 1990

CARBON MARKET IN INDIA 2010.PPT 38