Published Paper Details:

In recent years, The impact of global warming and green house gases are increasing on its extreme level in the globe. The concept of Kyoto protocol was adopted in 1997 to tackle the problem of global warming. But, due to complexity in rules and regulations of protocol, it came into force in 2005. Under the Kyoto protocol, the theory of carbon credit trading was generated. A carbon credit is a certificate which allows a company to sell its excess carbon emission above its permit. All the countries who have signed and ratified the protocol are divided into two categories called Annex I parties and Non Annex I country. Annex I countries are legally bounded by Kyoto protocol for emissions reduction of Kyoto protocol. The developed countries are the buyers of carbon credit while developing countries and least developed countries are sellers of carbon credits. The paper mainly focuses on Clean Development Mechanism (CDM) among three mechanisms (International Emission Trading, Clean Development Mechanism and Joint Implementation) established for countries by Kyoto protocol. The Carbon credit earned with the help of clean development mechanism are called Certified Emissions Trading. The objective of the paper is to discuss the status of CDM in India. The paper also discusses about the contribution of India in registration of CDM projects. Moreover, the sectoral scope of CDM projects are discussed. From the available data, it is clear that the highest projects are registered under the scope of energy industries. The details of CERs issued to India by UNFCCC are also given in the paper.