shas3n - 21 August, 2007 | Bangalore | Infrastructure | Metro Rail

For a government controlled body, BMRC is really industrious and we have seen them taking a lot welcome steps earlier. Now, like a real smart company, BMRC plans to encash its environment friendliness using 'Carbon Bonds' from UNFCCC. Here is a kind of FAQ on that topic.

What is a 'carbon bond'?: In a nutshell, the concept is something like outsourcing by developed nations of their responsibility for a clean environment. So for each ton of Carbon di oxide BMRC prevents from entering the atmosphere, it earns a 'credit' of 15-50$ and they can be sold to anyone who is willing to purchase them.

Who will buy these bonds?: According to Kyoto Protocol, all the developed countries have an obligation to reduce their CO2 emissions by adopting cleaner/greener technologies. But since this might mean a lot of reinvestment for those economies (since they have already invested in not-so-clean technologies), they are given an option to continue using those technologies provided they buy enough 'carbon credits' from developing countries (since they are starting afresh anyway). Projects in developing nations that are accredited by UNFCCC can invest in cleaner technologies, claim credits for every ton of CO2 (and other greenhouse gases) NOT emitted and sell the credits to companies/entities in developed nations. This serves the objective of supporting cleaner technologies in developing nations using a subsidy from developed nations.

How can BMRC claim emission reductions?: Since BMRC is envisaged to increase the use of public transport instead of personal one, BMRC should be able to take a lot of automobiles off the road. This means less vehicles on road, less fuel burnt and less CO2 and other emissions.

But BMRC uses electricity that is produced by burning fossil fuels: Yes, using electricity means burning coal/gas somewhere. But when the source of emissions is localised (as opposed to individual vehicles), it is much easier to implement purification and sequestration technologies. All the catalytic converters of all the cars in Bangalore will not save more NOx than one scrubber at a thermal power plant. So, even if the electricity is fossil-fuel based, it will still be less polluting. Moreover, lot of electricity in south Indian grid comes from Hydro and Nuclear which are carbon neutral.

What does it mean for BMRC?: It means that carbon bonds can serve as a source of additional revenue along with traditional means.

What does it mean for a common man?: Not much really. Just the pride that you are damaging the environment less by taking the metro than your SUV to office.

Please feel to add what I have missed in the comments.

 

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