Indian companies are going a long way in finding alternate sources of energy, and in the process, encashing a new opportunity in carbon credits. As many as 746 Indian companies, representing more than 40 sectors, account for 1,056 projects that have applied for CDM accreditation. According to industry chamber FICCI, as many as 114 firms out of India’s top 500 companies are involved in CDM projects.
A Crisil Research study reveals that the number of CERs in India is expected to increase to 246 million tonnes by December 2012, from 72 million tonnes in November 2009. The green-hued firms are spread across sectors such as steel, power, chemicals and consumer goods.