Clean Development Mechanism as a Key to Sustainability
6 Pages Posted: 20 Aug 2014
Date Written: August 5, 2014
Kyoto protocol market mechanism has provided an opportunity for India to achieve its sustainable development through clean development mechanism and selling carbon credit. The prescribed paper deals with bilateral project of DMRC metro rail where Japan to meet its Kyoto requirement, financed the project and provided technology for carbon credits. The project has contributed to economic and sustainable development in India and is one of the 5 metro rails which are earning profits.
The kyoto Protocol allows for several "flexible mechanisms", such as emissions trading, the Clean Development Mechanism (CDM) and joint implementation to allow Annex I countries to meet their GHG emission limitations. They purchase GHG emission reductions credits from elsewhere through financial exchanges, projects that reduce emissions in non-Annex I countries, from other Annex I countries, or from Annex I countries with excess allowances.
JEL Classification: F00
Suggested Citation: Suggested Citation