Clean Development Mechanism
Popularly known as CDM, India is one of the forerunners in to the CDM space. CDM allows industrialized countries with emission reduction commitments, to fully or partially fulfill their emission reduction targets by procuring Certified Emission Reductions (CERs) from GHG abatements projects in developing countries. Trading of CERs, being necessitated due to regulatory compliance, is of great significance in the Compliance Carbon Market.
A parallel market in carbon trading exists where businesses trade in Verified Emission Reductions (VERs). This Voluntary Carbon Market has grown out of issues around good governance and social responsibility of businesses and individuals. Over the last few years, there has been a growing demand for voluntary emission reduction by conscientious corporates and individuals.
We help organizations with their CDM & VER projects through our range of services, which covers:
- Exploratory study which includes identification and analysis of potential/existing projects that may be taken through the CDM/VER route.
- Support in documentations such as Project Concept Notes (PCN) and Project Design Documentation (PDD),etc.
- Facilitation of ‘Host Country Endorsement’ by DNA.
- Facilitation of ‘validation’ by DOE and subsequent registration with UNFCCC/ VER certification agencies.
- Assistance in monitoring and verification.
- Facilitation of issuance of CERs/VERs over the crediting period.
- Facilitation of CER/VER transaction.
- We have the largest market share in registered CDM projects globally. We are working on projects in the areas of renewable/non-renewable energy, energy distribution, manufacturing and chemical industries, transport, metals and mining, waste handling, afforestation/reforestation, green buildings etc.
- The projects are in many countries around Asia, Africa and Latin America.
- We have the highest number of CER issuances in India.
- We have developed a number of ‘new methodologies’ for CDM projects, which have been approved by the UNFCCC.
- We are assisting clients in their VER projects
EY is the one-stop shop for those seeking assistance when it comes to tackling the intricacies of CDM, VER and carbon trading.
We bring with us:
- Experience of providing advisory services on CER,VER and carbon markets.
- Experience in providing advisory services on CDM and the voluntary market.
- Extensive network and experience of working with almost all major participants in the carbon markets.
- Experience and understanding of country and industry specific regulations and current trends which help in developing realistic and robust CDM projects.
We are the single largest advisory firm across the globe in the number of successful CDM projects and transactions of carbon credits.