Forum > Climate change and Global Warming > Aiding Carbon Credit

Posted by Susan Sharma on August 09, 2007

 

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

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