CEE Oct-Dec 2002

decision set off enlarged activities at different fora. Noteworthy among which was World Bank's initiative to promote Clean Development Mechanism (CDM) through Clean Technology Initiative (Cfl). Its First Phase has been completed. The next phase ofactivities, which is of significance to us, is the Industrial Pollution Project (IPP), also financed by the World Bank. In India, the ICICI bank is implementing this project and providing details and guidelines to industries for availing loans for adopting environmentally sound technologies. Side by side, a number of nationally and internationally reputed organisations have embarked upon the task of exploring the scope of "Carbon Trading" between developed and developing countries. The basic principle of "Carbon Trading" consists in any developed countries, which are themselves not in a position to reduce GHG emission, helping developing countries with growing economy to reduce GHG emission in their new ventures, through adoption of clean developed mechanism; the funds for this will be available to developing countries under "Carbon Trading" . It is envisaged that this Panel of Trading may in future assume transactions of billions of dollars, even surpassing the annual transactions of many known transnational, industrial and economic activities. While some activities in this field are already taking place abroad, we in India are still awaiting its beginning. Cement industry has a unique opportunity of gaining from "Carbon Trading" through modernisation and technology upgradation by adoption of energy efficient and environmentally friendly technologies. It is imperative at this juncture for the industry to take appropriate steps and prepare itself for this. On its part, CMA has played the facilitating role, with the available facilities and capabilities, by providing the inventory on annual GHG emissions by Indian cement industry for the last 20 years, to the National Communication (NATCOM) constituted by the Ministry of Environment and Forests. It is now expected that the data thus painstakingly compiled and provided to NATCOM from India will provide the base for further ventures in GHG reduction with benefits accruing to the industry. C. M.A. N;:.-Vv LIBRARY D I HI I CLASS NO I BOOK NO ••...••..•• I ACCESSION N~ ...... : .. ~... .~~.~~~:~·-~·.· DATE . . . . .............. , ........ 2 (A.V. Srinivasan) Secretary General