New Delhi – The Federation of Indian Chambers of Commerce and Industry (FICCI) is organizing the “India Carbon Market Conclave 2012 (ICMC 2012)” on September 12-13, 2012, at New Delhi. This would be the sixth edition of the ICMC conclave that features a two-day Conference, a Master-Class on PoA Development, and an Exhibition to showcase services, technologies, projects and products.
The India Carbon Market Conclave has outlined its objectives to address the prevailing issues and future challenges in carbon markets. It provides a platform to carbon market stakeholders to engage in knowledge sharing, discussions on national and international policies, and networking across a global carbon market community. ThinktoSustain.com is the Media Partner for the event.
According to the World Bank, the carbon markets grew by 11% in 2011 and reached a value as high as $176 billion (State and Trends of the Carbon Market, May 2012). The recent initiatives by California and Quebec to adopt cap-and-trade regulations; the passing of climate bills by Republic of Korea, South Africa, Mexico and other developing countries have reinforced investors’ confidence in the market based carbon trading mechanism that holds a huge promise in the global fight to prevent disproportionate build up of greenhouse gases.
However, the challenges for the carbon markets are far from over. Even though world-wide emissions trading rose by 17% in volume to 10.3 billion tones of CO2e, the average price of carbon permits has taken a drastic dip due to an uncertain future. The Durban Agreement had failed to come out with an agreement on a second commitment period for Kyoto Protocol, or on any other legal format.
Besides the prevailing ambiguity, the inability of financial markets to make a substantial recovery post-2008, global meltdown has had a dampening impact on carbon markets in the European Union, considered as the hot-spot destination for carbon trading.
India has the second largest number of CDM projects in pipeline, after China, and therefore, the stakes are higher.
“The twin issues – a wavering macro-economic scenario and an unresolved future of the Kyoto Protocol – are likely to raise business risks for big-ticket CDM projects. Industry needs to take an informed decision before embarking on CDM projects, while the government must take strong policy action with global players to clear the stalemate at the earliest,” says G V P Rajan, Vice President, Sustainable Strategies at ThinktoSustain.com.
FICCI’s event focusing on a host of issues related to carbon markets comes at a time when the Indian industry needs clarity and direction.
“The India Carbon Market Conclave is uniquely positioned to take stock of the negotiations mid-stream towards the year-end culmination at the Conference of Parties which would be in Doha this year. The Conclave helps industry and government to come together to brainstorm on the policy and market issues, brings stakeholders up to speed on what is happening in the carbon market and outlines their expectations from the international climate regime,” says Rita Roy Choudhury, Director and Head, Environment, Climate Change, Renewable Energy at FICCI.
About FICCI
A non-government, not-for-profit organization, Federation of Indian Chambers of Commerce and Industry (FICCI) is the voice of India’s business and industry. FICCI has direct membership from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 83,000 companies from regional chambers of commerce. For more information, visit www.ficci.com.
About ThinktoSustain.com
ThinktoSustain.com – a Sustainability News and Analysis website – is a leading online source of credible information on environmental sustainability catering to a global business and scientific community. Launched in 2009 by alumni of the Indian Institute of Management, Lucknow, India, the site is dedicated to popularizing sustainability initiatives and green innovations from all key sectors – corporate, development and academia. For more information, visit About Us.
For more details, contact:
