31 May '11, 10am

India's Approach To Carbon Trading

India's Approach To Carbon Trading

The U.S. is the second largest emitter of greenhouse gas (GHG) emissions, but lacks a national emissions trading scheme. India is the third largest emitter of GHG emissions, but has a market-based carbon trading scheme, called Perform, Achieve and Trade (PAT). Announced formally in July 2010, PAT began on April 1, 2011 and will continue through 2014. The mandatory scheme sets targets for 563 facilities, which include power plants, which account for 54 percent of India’s energy use. Businesses that need more energy buy energy saving certificates, Escerts from businesses who use less. PAT will help India reduce carbon emissions by 100 million tons a year, according to government estimates, and save about 19 gigawatts of energy. India also has a renewable energy certificate (REC) trading scheme for wind, solar and biomass power plants. Green power accounts for about eight per...

Full article: http://www.care2.com/causes/global-warming/blog/indias-ap...

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