Okhla Compost Plant Became First In India to Receive Carbon Credits Worth 25 Lakh Rupees
The Okhla composting plant in New Delhi became the first in India to receive the carbon credits from the United Nations Framework Convention on Climate Change.
The composting plant of South Delhi Municipal Corporation in Okhla, New Delhi became the first in India to receive the carbon credits from the United Nations Framework Convention on Climate Change. The civic body was given 25 lakh Rupees as an advance against the Carbon Emission Reduction (CER) earnings from this plant.
The Okhla plant became operational in 2008. Since 2008, around two lakh tonnes of the waste has already been processed. In the future, the amount of waste processed everyday would be increased. The South Delhi Municipal Corporation has outsourced this operation to IL&FS (Infrastructure Leasing & Financial Services Ltd), which in turn is also working on the programme for upgradation of this plant.
What are carbon credits?
Carbon credits can be like the certificates which represent a decrease of greenhouse gases in environment. Projects which help in preventing the generation of these greenhouses gases are eligible for earning these credits.
The projects in turn can also sell these carbon credits to the other organisations, businesses or individuals in order to offset the emissions which are generated by them. One carbon credits equals to the saving of one tonne of carbon dioxide.