12.07.2015 Views

A Critical Conversation on Climate Change ... - Green Choices

A Critical Conversation on Climate Change ... - Green Choices

A Critical Conversation on Climate Change ... - Green Choices

SHOW MORE
SHOW LESS
  • No tags were found...

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

offsets – the fossil ec<strong>on</strong>omy’s new arena of c<strong>on</strong>flict 255tial for n<strong>on</strong>-plantati<strong>on</strong> CDM projects is estimated by <strong>on</strong>e source atmore than 170 milli<strong>on</strong> t<strong>on</strong>nes of carb<strong>on</strong> dioxide equivalent per year,including 90 milli<strong>on</strong> t<strong>on</strong>nes from renewable energy schemes, whilethe potential yield of land-use and plantati<strong>on</strong> projects is put at about78 milli<strong>on</strong> t<strong>on</strong>nes of carb<strong>on</strong> dioxide equivalent annually. 65 A CDMNati<strong>on</strong>al Strategy Study predicts that India could take 10-15 percentof the global CDM market.As social activist Soumitra Ghosh and researcher Hadida Yasminexplain, a ‘friendly and indulgent’ nati<strong>on</strong>al CDM authority which‘clears CDM projects in India almost as so<strong>on</strong> as they are submitted’,a ‘ “clean” and aggressive corporate sector’, and a ‘happy bandof new-age nati<strong>on</strong>al as well as transnati<strong>on</strong>al validators, c<strong>on</strong>sultantsand project developers have made India a veritable paradise for CDMprojects.’ 66 News about CDM projects and the income they will supposedlygenerate is boosting stock prices in even some of the worstpollutingsectors, such as sp<strong>on</strong>ge ir<strong>on</strong> (see below). Accordingly, manyof the big names of the Indian corporate world – Reliance, Tata,Birla, Ambuja, ITC – are moving in, in spite of earlier apprehensi<strong>on</strong>sthat market uncertainty and the complex procedures that CDM involveswould put off big companies.Some of these firms are coming up with smaller-scale projects in renewableenergy and energy efficiency. At an ITC paper and pulp operati<strong>on</strong>in Andhra Pradesh, for instance, six separate CDM projectsare being arranged inside the same factory. Bundled hydro and windprojects—and biomass—are also industry favourites due to a less riskyregistrati<strong>on</strong> procedure. However, nearly 85 per cent of Indian carb<strong>on</strong>credits are being generated by <strong>on</strong>ly two projects. Both projects – setup by blue-chip corporati<strong>on</strong>s SRF in Rajasthan and GFL in Gujarat –destroy HFCs, which are extremely powerful greenhouse gases usedin refrigerati<strong>on</strong>, air c<strong>on</strong>diti<strong>on</strong>ing, and industrial processes. 67Inevitably, social activists are raising questi<strong>on</strong>s about whether such<strong>on</strong>e-off gas destructi<strong>on</strong> projects provide ‘any credible sustainable development’to local communities. 68Why shouldn’t such projects be benefi cial to local communities?First, because HFCs are so bad for the climate, projects that destroythem can generate huge numbers of lucrative credits merely by boltinga bit of extra machinery <strong>on</strong>to a single existing industrial plant.As a result, there are no knock-<strong>on</strong> social benefits other than providingincome for the machinery manufacturer and some experience fora few technicians. Sec<strong>on</strong>d, such projects d<strong>on</strong>’t help society becomeless dependent <strong>on</strong> fossil fuels. They d<strong>on</strong>’t advance renewable energy

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!