India unveils energy efficiency trading program

New Delhi intends to launch a new plan for boosting its energy efficiency within its efforts to cut back greenhouse gas emissions and fight climate change, the Financial Times reported. Environment Minister Jairam Ramesh announced plans to revise the country’s Energy Conservation Act. Under the plan, the government will issue energy efficiency certificates that will be traded between businesses using more energy and those that have taken measures to reduce their energy use. The country’s energy efficiency market is estimated to be worth some US$15 billion over the next six years. (September 28, 2009)