Delhi Metro nets Rs 19.5 crore from the sale of carbon credits

Delhi Metro has collected 3.55 million carbon credits over a period of six years (from 2012 to 2018), which it sold recently for Rs 19.5 crore.

The Delhi Metro Rail Corporation (DMRC) has been a pioneer in India in quantifying climate change benefits from its operations. It has a number of dedicated projects to its credit-oriented towards energy efficiency, it said in a media statement.

In 2007, Delhi Metro became the first metro or railway project in the world to be registered by the United Nations under the Clean Development Mechanism (CDM) which enabled Delhi Metro to claim carbon credits for its Regenerative Braking Project.

The CDM is a project that has Green House Gas (GHG) offset mechanism under the Kyoto Protocol, which enables the public and private sector in high-income nations the opportunity to purchase carbon credits from greenhouse gas emissions-reducing projects from low or middle-income nations as part of their efforts to meet international emissions targets under the Kyoto Protocol, the DMRC said.

The CDM projects generate emissions credits called Certified Emission Reductions (CERs), which are then bought and traded. One CER is equal to a reduction of one ton of CO2 emission. The CDM helps to deliver sustainable development benefits to the host country, the statement said.

The CDM projects are managed by The United Nations Framework Convention on Climate Change (UNFCCC), an entity established to combat “dangerous human interference with the climate system”.

Since 2015, Delhi Metro has also been providing CDM consultancy services to other metro systems in India, enabling them to earn carbon credits from their project.

Already Gujarat Metro, Mumbai Metro and Chennai Metro have registered their projects under the Delhi Metro’s Program of Activities (PoA) project enabling them to earn carbon credits and contribute to India’s Intended Nationally Determined Contribution (INDC) in compliance with the Paris Agreement.

In 2014, Delhi Metro registered with the prestigious ‘Gold Standard Foundation’, Switzerland, which is also a globally accepted certification standard for carbon mitigation projects. The Metro has registered four projects with the Gold Standard Foundation. The total revenue generation from CDM and Gold Standard projects since inception has been Rs 29.05 crore, said the statement.

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