Friday, December 28, 2012

Japanese updates: Japan's Bilateral Carbon Finance: A New Opporunity For India (Nov 2012)

IGES EnviroScope

Japan's Bilateral Carbon Finance: A New Opporunity For India

Author: Usui, Kenta|2012/12|In Sustainability Outlook, Nov. 22, 2012.|Publisher: Sustainability Outlook
Language: English|Publication Type: Non peer reviewed articles|Copyright: Sustainability Outlook

Japan is promoting low-carbon technologies in developing countries through its bilateral carbon finance scheme. The scheme can revive India’s green businesses facing record-low carbon price in the global market.

India is a vast country with a population of 12 billion, but with limited endowments in fossil fuels. Hence India has been very active to promote energy efficiency and develop renewable energies from an early stage.  In the past decade, Clean Development Mechanism (CDM), operated under the United Nations Framework Convention on Climate Change (UNFCCC) has been one of the key drivers to promote and finance energy efficiency and renewable energies. As of November 2012, 932 CDM projects have been registered in India, among which 695 are renewable energy projects and 83 are energy efficiency projects (IGES 2012).

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