A first, Kolkata IT park wins carbon credits

Technopolis, a 7,75,000 square feet IT park located in Kolkata’s Salt Lake suburb, is all set to become the first building in the country to earn carbon credits, reports Varun Soni.

Technopolis, a 7,75,000 square feet IT park located in Kolkata’s Salt Lake suburb, is all set to become the first building in the country to earn carbon credits. It is in the process of being registered under the United Nations Framework Convention on Climate Change with the potential to earn 8,500 carbon credits a year over the next 10 years.

HT Image

Sold in the market, the credits, at Euro 18 each, will fetch the developer Rs 78 lakh every year.

Carbon credits are a key component of international emission trading schemes. “They provide a way to reduce emissions on an industrial scale by capping total annual emissions and letting the market assign a monetary value to any shortfall through trading. Credits can be exchanged between businesses or bought and sold in international markets,” says Varun Pahwa of Dessicant Rotor International, which provides products for energy conservation in buildings.