When I checked out the site, I found that this year's topic was one of my old favorites - "Climate Change". It reminded me of my Management Research Project that I had done during my MBA days. So, I started digging through my old CDs & Zip Drives and finally found out my old research paper. I have always been wanting to post it on my blog, but procrastination always got the better of me. But now, with the deadline of 15th October and with the exciting emotion of all the blogosphere writing on one common topic; which I feel is a very wonderful idea; here I am finally sharing my research paper in a nutshell.
- CDM projects Reduce global warming
- More companies adopting CDM Projects
- Emissions trading allows flexibility for emitters without sacrificing the environmental objective of reducing emissions
- Emissions trading can also encourage innovation in the reduction of greenhouse gas (GHG) emissions
- India, a Non Annexure I country; huge potential
a) No adequate monitoring of sustainable development and local community benefits.
- Hence, the government should ensure that there is a separate governing body which can enforce stringent rules to overcome this.
b) No reduction in actual carbon emissions
- The companies should come up with alternative sources of energy to reduce the carbon emission
c) May result in increased local concentrations of emissions - Thus, there should be a clearing house which will look after the volumes being traded
d) Price is uncertain – determined by market
- The exchange should decided a daily price range to reduce this ambiguity
e) Eucalyptus used in carbon sink projects, degrades the soil
- The government should increase the awareness among the farmers and the aggregators should try to come up with other plants which don’t do any harm to the soil
As India is a non-annexure I country, hence it can sell CERs to the Annexure I countries and generate profit from the trade. Looking at the increasing rate of industrialization, it can be said safely that this is a profitable option for our country to generate foreign revenue.
Finally,the "Carbon Trading" doesn’t help in reducing carbon emission, but in a way helps in covering up the emissions. So, newer and more effective ways should be used to control the carbon emissions.