Carbon trading: There’s an opportunity to be tapped in Ahmedabad

The potentials and risks of carbon trading provides a good business opportunity, this was conveyed to chartered accountants of the city at a workshop on carbon trading on Tuesday.

Founder director of Gensol cort from the known opportunities of carbon credits for industnsultants, Anmol Jaggi, in a presentation said that apary, an emerging threat is the imminent demand of the western countries to import only 'carbon complaint' products from India.

He said that this would mean CAs will have to do a carbon auditing of their clients to give a certificate that proclaims their products as carbon compliant.

"There can be two types of responses to this - companies can be
scared of this and another is for smart companies to turn it into an opportunity," Jaggi said. He, however, said that reducing emission can initially be a big burden on companies. Giving an example, he said that if the NTPC wants to reduce only 1% of its incumbent carbon emission, it will have to incur an expense of Rs 2,000 crore.  

Talking about his client Gujarat-based Welspun, he said that 'carbon compliance' has cost the company an additional Rs2 per meter of standard cloth. "Welspun had to turn 'carbon compliant' as it supplies its products to Walmart and several western companies. They have already mandated their suppliers to be carbon compliant," he said.