Converting carbon into currency a la Indore Smart City CEO
Author: BI Bureau
Indore: It is uniquely a path breaking initiative where green projects are being monetized by Indore Smart City project Chief Executive Officer (CEO) and IAS officer Aditi Garg. By selling carbon credits earned for the projects, Indore Smart City Development Limited (ISCDL) has earned revenue of Rs 50 lakh.
This soothing but extremely promising development comes amid the global chorus over worsening climate crisis. Many governments are thinking of mitigating carbon emissions by switching to greener alternatives. These environment friendly solutions are expensive as they involve heavy initial investments.
According to Garg, this is the first time when any smart city in the country has been able to earn such high revenue from sustainable projects. She said that the environment-friendly projects are seen as economically infeasible because of huge investments. She wanted to challenge this notion by earning a small but considerable amount of money.
Ten months ago, ISCDL had registered three of IMC’s projects — a 600-tonne-a-day compost plant, biomethanation plant of 35 tonne per day (TPD) capacity (Choithram and Kabitkhedi) and a 1.5MW solar plant — under the VCS programme. These projects helped reduce carbon emission by over 1.70 lakh tonne. /BI/
