Friday, October 22, 2010

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India to introduce carbon credits for short sea shipping

Companies using India's coasts to transport goods between domestic ports can soon start claiming carbon credit as the shipping ministry, in collaboration with its environment and commerce counterparts, is framing a mechanism to enable firms to know how much carbon emission they have prevented and receive the monetary benefits for that.

This is the first time that the government is linking the shipping sector with carbon credits. It is one of the measures through which the shipping ministry wants to promote coastal shipping, which accounts for only 6% of the total domestic cargo movement even though the country has more than 7,500-km coastline and over 200 ports. In Europe, coastal shipping has a 40% share in total cargo moved.

-Financial Express (New Dehli)

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