The Headquarters of Chennai Municipal Corporation, Ripon Building
The Greater Chennai Corporation has identified projects for biomining, non-motorized transportation, sewage treatment, urban forestry, solid waste management, and rooftop solar panels in order to begin making money from the trading of carbon credits on the global market.
According to the officials, the Corporation’s solid waste management initiatives are the most promising in terms of lowering carbon emissions and are anticipated to be registered first.
A consultant has been hired and the proposed duration of the project contract is three years. Trading carbon credits has been a source of revenue for the Indore Corporation.
For the active projects, preliminary eligibility checks have been made. The expert will shortly conduct a more in-depth investigation in preparation for registration and monetization. A GCC official stated that biomining, bio CNG plants, compost plants, and similar solid waste management efforts will be thoroughly examined and are very promising.
The civic organization will conduct a thorough feasibility analysis of emission reduction initiatives to determine their eligibility under the global carbon credit mechanisms. The Hindu reports that the projects will be registered under the carbon credit procedures.