Carbon trading: Money from (clean) air

C. Rajalakshmi ‘Clean money for dirty air’. That’s the premise of an emerging trade in carbon credits, which is gaining more impetus with increase in the number of Clean Development Mechanism (CDM) project ideas approved by the National Clean Development Mechanism Authority. The value of the carbon trading market was around $30 billion in 2006 as per the estimates of the International Emissions Trading Association. Since 2002, a cumulative 920 tonnes of carbon dioxide equivalents have been transacted through CDM project activities. European buyers dominate the market, with 86 per cent market share as of 2006. On the selling side, India leads the race with 288 CDM projects registered followed by China with 129 projects as of November 2007.............................. full news at: http://www.thehindubusinessline.com/iw/2007/11/18/stories/2007111851591500.htm