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As mentioned earlier, India (with a 6% market share and 930 projects in pipeline) is next only to China and contributes to about one third of the total CDM (Clean Development Mechanism, which accounts for 16.5% of the market) project base registered with UNFCCC (United Nation Framework Convention on Climate Change). In 2007, Indian companies reportedly earned $300 million by selling CERs (equivalent to one tonne of carbon dioxide) and this earning is all set to touch $3.6 billion by 2012. The carbon trading market has grown phenomenally. The global carbon market was just $11 billion in 2005; went up to $31 billion in 2006; touched $64 billion in 2007; and is thundering upwards at $96 billion as per current figures. It is in reality expected to be a trillion dollar institution by 2020.
Corporate players across the globe foresee a huge demand in the future and hence are developing environmentally conservative technologies. This will not only help them cash in on millions of dollars of future demand but will also portray them as responsible corporates. Speaking exclusively to 4Ps B&M, Tom Johnstone, President & CEO of the $8 billion behemoth SKF (the world’s largest ball bearing manufacturer), said, “Carbon credits enhance both the company’s image as well as profits,” and further added that it’s a win-win situation for both the company and the consumer.
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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