MoHUA asks metro operators to register for carbon credits

The Union ministry of Housing and Urban Affairs has asked metro rail corporations to register for carbon credits in line with the government’s roadmap to achieve net zero carbon emission. This comes after a suggestion from the parliamentary standing committee on housing and urban affairs. A carbon credit is a tradable permit or certificate that provides the holder the right to emit one tonne of carbon dioxide or its equivalent of another greenhouse gas. A recent report of the committee, outlining the action taken by the government on its recommendations, said that the ministry has informed that it is merely desirable for metro networks to register for carbon credits and not mandatory. “M/o Housing and Urban Affairs has requested metro rail corporations, who have not yet registered for carbon credits, to explore economic benefits of registration,” it quoted the ministry as saying in its report to the panel. The committee noted that several metro projects have registered for applied for greenhouse gas (GHG) emission under two platforms - Clean Development Mechanism (CDM) under UNFCCC and the Gold Standard Registry (GS) to demonstrate emission reduction. The Delhi Metro has earned 4.4 million carbon credits from CDM and GS projects, while metro rail corporations Kochi and Lucknow have said that the registration for carbon credits is under process. See also: Schneider Electric to invest in Bengaluru’s smart factorySingapore investors commit Rs 200 bn inflow for UP