22.01.2014 - The carbon credit market may have crashed, but a revival may not be far off
Thanks to the Clean Development Mechanism (CDM), green technology and its industrial use became everyone’s pet project over the past decade. “CER (certified emission reduction, an emission unit or carbon credit issued by the CDM) trade was seen as a brilliant idea in its inception phase, as it introduced financial incentives for non-polluters, in a bid to achieve a kind of economic equilibrium between participating nations and states,” says Namita Vikas, senior president and country head, Responsible Banking, Yes Bank. However, with the international price of a carbon credit falling over the past two years —from €24 to a meagre 84 cents now — business interest in clean technology is waning. “Without credits, it is no longer attractive for businessmen to adopt clean technology,” says Assaad W. Razzouk, group CEO and co-founder, Sindicatum Sustainable Resources, a consultancy for clean energy solutions..................................Full Article: Source