Tuesday, October 23, 2007

India losing out to Chinese pipeline of carbon credits

From the Times of India:

MUMBAI: Multinational consultants advising Indian corporates are causing carbon credits originated in India to be overpriced compared to those in China. This has led to the Chinese market grabbing a larger chunk of the global carbon credit market surpassing India, due to transparent and realistic pricing, in addition to pro-active support from the Chinese government.

Speaking to ET, Fortis Bank head (carbon trading, Asia) Shane Spurway said: “India and China are emerging as dominant markets for carbon trading. There are many projects in India, having the potential to generate carbon credits, however, only few of them get good buyers overseas. This is because consulting companies in India quote a price which is almost 50-60% higher than the actual market price.” ...MORE