India has been ranked No.1 by a United Nations body for successfully adopting green technologies.

India’s clean development projects are worth 1,20,000 crore, highest in the world

The time being taken for registration of the projects with United National Convention on Climate Change, the global body for certifying clean projects, is lowest for India at 15 months, followed by 17months for China and Brazil.

CLEAN MECHANISM

• The clean development mechanism is a global mechanism where green projects can be registered to earn carbon credits for trading in the International Market.
• India has maximum clean development projects in the world followed by China, whose overall value or projects are much higher than that of India.
• Except for landfill site management, India’s performance in four indicators – hydro-power, bio-mass generation, thermal power, wind energy – has been rated as “very high”.

CARBON CREDITS

• One carbon credit is equal to a tone of carbon saved from emission
• To earn the credit, an organization has to register its green project with the Environment ministry. The ministry validates the project and sends it to UNFCCC for registration.
• The UN body evaluates the project and if it is as per the norms, it is registered.
• After implementation, the organization can sell the credits in the internal markets.
• India has already received credits worth $400 – $500 million.