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28 Sep Delhi Metro Rail Corporation Earns USD2.6m by Selling Carbon Credits
Delhi Metro Rail Corporation (DMRC), the leading transportation service provider in India, reported that it had earned green revenue of IND195m (around USD2.6m) by selling 3.55m carbon credits collected during a six-year period since 2012, according to ETEnergyworld.com on September 27. DMRC is the first batch of Indian companies that quantified the climate change benefits from their operations and registered their sustainable projects under the Clean Development Mechanism (CDM) by the United Nations.
CDM is a greenhouse gas (GHG) offset mechanism under the Kyoto Protocol, allowing participants in high-income nations to implement qualified emission-reduction projects in developing countries. This mechanism provides countries with tradeable certified emission reduction (CER) credits to simulate sustainable developing processes under the Protocol. To apply for a CDM project, the applicant needs to prove the project can cut additional emissions and the public funding is exclusive for the project. The CDM management board is responsible for managing and monitoring all the CDM projects.
In 2007, DMRC registered its project of installing low GHG emitting equipment to its metro system, making it the first metro network registered under CDM worldwide. So far, DMRC has registered five CDM projects, four of which are still within the crediting period. Most of its projects are related to energy-saving or emission-reduction improvement in its metro and railway system. What’s more, the CDM board approved DMRC’s solar PV rooftop installation project in 2017 with a total capacity of 50 megawatts (MW). Its current production from rooftop PV equipment has accounted for over 32MW. DMRC also acted as a Coordinating/Managing Entity (CME) for the Programme of Activities (PoA) to provide consultation services for Indian metro and railway companies to gain CDM carbon credits.