Carbon mkt doubled to $126bn in 2008: World Bank...My favourite is Navin Flourine....

Carbon mkt doubled to $126bn in 2008: World Bank
29 May 2009, 0110 hrs IST, TNN


MUMBAI: The turmoil in the financial world notwithstanding, 2008 saw a doubling of the global carbon market to an estimated over $126 billion,
according to the latest World Bank report `State and Trends of the Carbon Market Report'. The finding of the report, which is based on data from trading of European Union Allowances (EUAs) under the European Union Emissions Trading Scheme (EU ETS) and from transactions completed under the Kyoto Protocol's mechanisms, including clean development mechanism (CDM), demonstrates the importance of the carbon market on a global scale. CDM and Joint Implementation (JI) mechanisms under the Kyoto Protocol allow industrialised countries to purchase greenhouse gas emission reductions in developing countries and in countries with economies in transition. According to the report, however, the value of transactions from CDM projects in developing countries declined by 12% to an estimated $6.5 billion in 2008, with an average price of $16.8. According to Karan Capoor, senior finance specialist, World Bank: "This is a golden opportunity which challenges the international community to develop new thinking on how to scale up climate mitigation to promote sustainable development.'' The emphasis is based on the average likely demand of 560 million tonne of carbon dioxide (CO2) emissions per year from 2012-20 compared to just about 80 million tonne of CO2 emissions that was registered in the CDM. Said Kathy Sierra, World Bank V-P of sustainable development: "As one response to the climate crisis, a deep and global carbon market continues to hold the promise to deliver significant benefits to both developed and developing countries alike.'' The CDM executive board is currently working to improve the efficiency of the project approval process, especially the key concept in determining whether a potential project is eligible to receive credits under the UN scheme. Recent scientific research and findings by the Intergovernmental Panel on Climate Change (IPCC) and others call for industrialised countries to collectively reduce emissions even more aggressively (by 25-40% below 1990 levels by 2020) than the proposals on the table for Copenhagen.

My Comments:

I have written about Navin Flurine here couple of times.It is already up from Rs 72 to now at Rs 181 and it is still a buy..........Another Guj Flouro in making.....The other stocks in this categories are

1) Sahyadri Ind(My old pick)

2) Tanfac Ind( My old pick)

3)Torrent Power(My Old pick)

4)IFB Agro

5) Aluminium Flouride

There are others as well but unable to recall.....but Carbon Credit story is going to get momentum and these scrips will FLY......