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Clean gas to fetch $ 150 bn

New Delhi, Oct 30: Indian industry is expected to witness inflows worth $ 150 billion from clean development management (CDM) in the next 40 years.

The basic objective of CDM is to assist developing countries in achieving sustainable development and help countries with green house gas (GHG) emission reduction commitments to achieve compliance.

According to a research conducted by Ernst and Young, the adoption of CDM and emission trading will welcome foreign investment, decrease pollution and also contribute to obligations or commitments made under the Kyoto Protocol.

Emission trading refers to a mechanism which allows firms to trade their accrued GHG reductions in an international carbon exchange.

A seminar conducted by Assocham on climate change and industry in the capital today suggested that CDM is the most suitable option for climate change financing in India.

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