The Hindu : Andhra Pradesh / Hyderabad News : Carbon trading firm to open office

Online edition of India's National Newspaper
Wednesday, Mar 21, 2007
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Carbon trading firm to open office

Special Correspondent

HYDERABAD: CantorCO2e will announce the official launch of its Indian operations next month.

Managing Director of the company's Indian operations Ram Babu said here on Tuesday that the London-based CO2e and the US-based Cantor Environmental Brokerage firm joined hands last week and created CantorCO2e.

Cantor Environmental Brokerage was one of the first emission brokerage firms in the world to create liquidity in the environmental markets in the US, while CO2e was formed to address the prospect of global greenhouse gas emission trading created by the signature of the Kyoto Protocol. CantorCO2e was responsible for the certified emission reductions (CERs) in Europe and Canada.

Applications blocked

Though several companies in India were vigorously pursuing clean development mechanism (CDM) in their industries and were into trading emission credits, at least 50 per cent of their applications were blocked at the CDM executive board in Bonn.

CantorCO2E was providing the necessary guidance to companies secure CERs to operate in the carbon market. India accounted for the highest percentage (32.88 per cent) of registered project activities for obtaining CERs, followed by Brazil (17.12 per cent).

Mr. Ram Babu said that once the industries understood that the CERs would fetch money, the business would further increase.

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