Chennai to get carbon credit framework
The Hindu
It will facilitate reduction in emission by civic infrastructure projects, let Corpn. trade carbon credits
The Greater Chennai Corporation (GCC) and Chennai Smart City Ltd. will set up a carbon credit framework, facilitating the reduction in emission by civic infrastructure projects.
Once a carbon credit framework is in place, the Corporation will be able to improve civic infrastructure projects with better facilities for reducing greenhouse gas (GHG) emission, get money for infrastructure projects that are environment friendly and trade carbon credits, which are permits that allow organisations to emit a certain amount of greenhouse gases.
Under the carbon credit framework, organisations can purchase additional credits from other organisations that offset GHG emissions through programmes that directly remove GHG in the atmosphere. For example, the proposed increase in green cover by the Corporation is one such environment-friendly initiative.