Indian Wildlife Club Forum

State Bank of India (SBI) plans to create financial instruments to aid carbon credit trading and management and fund and advise clients in the eco-friendly business.

The business opportunity is linked to a growing global market in which industrial polluters in developed countries that cross administered emission limits of greenhouse gases fund clean technology projects in developing countries like India and China under a government-monitored trading regime.

SBI said in a statement that analysts peg the global carbon trading market at $100 billion by 2010 and the Indian carbon market has the potential to supply 30-50 per cent of the projected global market of 700 million CERs by 2012.

Source: Hindustan Times, Aug. 8, 2007