9 Indian Companies faces rejection on carbon plea

Nine Indian projects, which include Nalwa Sponge Iron at Raigarh, Chhattisgarh, Dalmia Sugars new power plant in UP, Siddeshwari Industries 2.25 MW rice husk based cogeneration plant in Muzaffarnagar, UP; Rajashree Cement ‘s Plant at Gulbarga, Karnataka; GACL energy saving measures at Vadodara and Lafarge’s blended cement project applied for registration to United Nations Framework Convention on Climate Change (UNFCCC), have faced rejections. As a result the Indian business is set to lose around half a million Certified Emission Reductions (CERS) valued at about Rs.300 million.
For a project to earn carbon credits it has to demonstrate to the issuing authority that by implementing it, emissions will be lower than what it would be if project doesn’t come up. The rejection of all these nine companies was on this ground, as they couldn’t convince the authorities. The UNFCCC initially used to clear all project but now it has become more strict and projects are facing rejections. But one thing is for sure the demand for better eco friendly projects is on a rise.