General Awareness

April 04, 2017 @ 01:15 PM

April 04, 2017 @ 01:15 PM

K. J. Somaiya Institute of Management Studies and Research, Mumbai

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India and Carbon Credits

Published : Friday, 04 July, 2014 12:35 PM 
Off late, humans have realized that our environment must not be polluted by carbon emissions and if not managed properly, we have to face unbearable environmental issues. MBA aspirants are expected to  know this issue and develop more reading. 
Carbon credits have been considered one of the most significant ergonomics in the world today. With the ozone layer at its vitality, it is necessary to have some rules put on industries to make the greenhouse gases emission regulated for over all safety. Industries all over the world have to follow this protocol in order to work in a safer environment. India also has to follow these rules and regulations just like others in its industrial sector. It is basically to show how they perform in their manufacturing departments and are also being strict about their CO2 emissions in the environment. 
Carbon credits presently are quite necessary to be earned in order to stay on the safer side of manufacturing. According to the rules of the Kyoto Protocol a company which saves one ton of CO2 emission during manufacturing earns a carbon credit. These carbon credits let them use up their carbon emissions in the environment so that they can manufacture without breaking the environmental laws. In other words, an industry without carbon credits will have to pay heavy taxes or even have to stop their production if the carbon emissions are exceeding the limits. 
Even though India has industries which comprise Carbon emissions like cement industries, steel industries and fertilizer industries etc. yet they are focusing on industries which are providing renewable sources of energy. Wind mills, Bio gas, Bio- diesel are some of the industries that are earning them carbon credits that can be used for carbon emitting industries. However, these carbon credits are also used for trading with other countries. So, that area will also benefit if renewable sources are focused at a higher rate giving India enough credits trading and utilizing. 
With Carbon Credits India will be able to gain:
  • Advanced technologies and improvements in foreign investments
  • Contribution to other renewable sources of energy and aiding in reduction of greenhouse gases
  • Trading of gained carbon credits with developed countries that need these carbon credits more because of their vast emissions.  
So, it is quite mandatory that India focuses on the renewable sources so that they do not aid in the destruction of the environment and also gain from the earned carbon credits. But just selling of these credits is not enough to cope with the safety of the environment. India should also help non developing countries to generate renewable sources of energy so that they do not have to emit harmful carbon compounds in the environment through general industrial methods of production. 
The investment in the carbon credits is quite large. And to aid in that, many Indian banks have signed to support the carbon credit investment for the country. Banks like HDFC and IDBI have petitioned an agreement with global companies to help in the facilitation of the carbon credits trading in the market. Such steps will help in earning capital for industrializing India more efficiently. The countries goals and objectives are clear and all that is required is the execution of this planning for a better future. 
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