Seeking to benefit from monetary spin offs of efforts to check climate change, railways is gearing up to earn carbon credits by running new generation trains on clean fuel.
The new trains would be fuel efficient and they would run on recyclable and low emission fuel. This would enable us to reduce the pollution level to a great extent besides earning carbon credits.
According to the Kyoto can be earned by preventing generation of a ton of carbon dioxide. One carbon credit is worth $10 as per the UN Framework Convention on Climate Change (UNFCCC) guidelinesâ€¦
Indian Railways will soon be signing a letter of intent with the World Bank for getting carbon credits. This is the first such project in transport sector where Railways will earn carbon credit worth millions.
Railways are also trying to negotiate with a few global train manufacturers for acquiring a few generation environment friendly trains.
Adoption of energy efficient technology by using light weight coaches and wagons, using regenerative braking system in electric locos introducing solar based lighting at level crossings and use of renewable sources of energy for railways applications are some of the measures undertaken by the Railways to generate certified emission reduction.
While old existing locos are being converted into fuel efficient mode, all new locos are manufactured with upgraded technology. Railways have also successfully developed a proto type to run on dual fuel that is CNG and diesel. There is a need to disseminate knowledge about carbon credits and clean development mechanism and to understand the basics of the process involved in getting carbon credits from the UNFCCC.
The way it works:
Carbon credits provide a way to reduce greenhouse gas emissions by giving them a monetary value. A credit gives the owner the right to emit one ton of carbon dioxide. Businesses that are over their quotas must buy carbon credits for excess emissions, while those quotas can sell extra credits.