ICRA forays in carbon trading advisory biz

Under the Koyoto Protocol, developed nations have to reduce carbon emission to 5.2 per cent of the 1990 level.     

It is estimated that the revenues from CERs would be about $30 billion per annum globally by 2012, of which India is expected to contribute about 20 per cent (about $6 billion).     

In this context, the company hopes to harness the huge potential available in the carbon trading space as it has consulting experience across all dimensions of the energy sector, he said.     

Elaborating on the clientele, IMaCS Managing Director R R Rao said, "The primary target clients with this new offering will be international financial institutions, carbon funds, renewable project developers, insurance companies and CER buyers from across the world".