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Prospect of carbon credit mechanism with small and medium sized solar project in educational facilities; Astudy in Kamrup District of Assam, India

Author: 
Hrishikesh Sharma and Dr. Arobindo Debnath
Subject Area: 
Social Sciences and Humanities
Abstract: 

Global warming resulting from high level of greenhouse gases emitted in atmosphere has reached an alarming situation. The global 2010 emissions are 31% above the 1990 emissions. World leaders at the United Nations discussed the possibility to put a cap of how much carbon can be emitted by each country so that the total combined emission all nations should be under the safe limits of greenhouse gas emission of the earth. It is estimated that under the condition of usual business, the emission levels till 2020 would go up to 58 GtCO2, which is higher by 14 GtCO2 than the targeted level of 44GtCO2. Limiting emission to 44 GtCO2 would hold the increase in global average temperature rise in this century below 2°C as compared to pre-industrial levels, resulting in restricting the global warming and its adverse effects (Jane Ellis, 2004). UNFCCC, a division of the UN at the Kyoto Protocol has proposed a way where both the developed and developing nations can join hands to contribute to reduction of emission of these harmful gases. It proposes that developed countries which already have major industries emitting GHG’s; instead of reducing these activities, can exchange the carbon emission levels with the developing nations. Since developing nations are still in the phase of gearing up their industrialization and hence pollute lesser than developed nations, these countries can pass on the available limit of carbon emission to the developed nations (Yuvika Gupta, 2011). In exchange for this, the developing nation has to support in building up the carbon reduction mechanism in developing country or pay the prevalent market price of the amount of carbon credits. Total emission levels of the atmosphere of the earth remains constant, irrespective of the country from where carbon is emitted. This practice is termed as Carbon trading which enables the developed countries to share their responsibility of lowering carbon emission with the developing countries whose emission levels have not yet reached the near danger levels. In the process, the developing countries get technology benefits in terms of upgrading their infrastructure to match with the developed nations and that too at a lower cost than that of the developed nations due to lower cost of manpower and land. This paper explores the opportunity for a developing country like India to build up renewable energy projects where carbon credits generated can be exchanged with multinational companies who are in need of carbon credits. The prospects of additional revenue generation through carbon trading projects are really lucrative for an economically less privileged state like Assam. This would also give a strong amount of exposure to Assam in worldwide technology up gradation and open new avenues of development of the state. The study conducted in few of the educational institutions would also give an insight as to how these regulatory frameworks could be designed to make it convenient for people to embrace such projects even at a smaller scale.

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