Armed with its ‘green’ projects, the Greater Noida Industrial Development Authority (GNIDA) plans to enter the carbon credit trading market. For this, it plans to hire a consultant to evaluate projects at different stages of planning and execution and help it understand various carbon credit programmes, account standards and products prevailing in the market worldwide.
A carbon credit is a tradable permit or certificate that gives the holder the right to emit one tonne of carbon dioxide or an equivalent of another greenhouse gas. Officials said the move seeks to explore the economic benefits of registration and incorporate green technologies to lower GHG (greenhouse gas) emissions.
GNIDA has undertaken several initiatives and measures in alignment with reducing greenhouse gas emissions over the years. As many as nine potential projects may help it earn carbon credits. Some of these are the bio-remediation of legacy waste, replacing all halogen streetlights with Leds, and establishing garbage processing plants.
The bio-remediation of around 2.4 lakh tonne of legacy waste, which began in October 2021, is one of the key green projects undertaken by the Authority. The plant, operational in Lakhnawali, seeks to process 2.4 lakh mt of waste and reclaim the entire 20 acres of land over the next two years.
It is is also in the process of setting up processing plants with a total capacity of around 1,100 tonne per day. There is also a proposal to construct 200 biogas plants over the next two years.
