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Monday, 28 July 2008

SBI seeks CDM consultants to earn carbon credits

Country's largest public sector lender State Bank of India is looking for energy consultants to save power and earn carbon credits.

As part of its exercise to go green, the SBI has invited applications from Clean Development Mechanism (CDM) consultants for energy saving projects.

The consultants will advise SBI on usage of energy efficient devices in its buildings and help the bank earn carbon credits as per the Kyoto Protocol.

As per the protocol, the CDM allows the industrialised countries with a greenhouse gas reduction commitment to invest in projects that reduce emissions in developing countries. It is an alternative to more expensive emission reduction in their own countries.

Carbon credits are the key component for emission trading schemes, that mitigate global warming and can be used finance carbon reduction schemes around the world.

The prospective consultants, SBI said on its website, "should have adequate exposure for earning CDM projects for earning Carbon Credits, assuming overall responsibility for the CDM projects of 7500 CERs (Certified Emission reductions) and above."

SBI is proposing to earning carbon credit by using power condition-cum-energy saving devices in light and fan circuits in large buildings, the bank said.

The CDM consultants can send their applications to SBI by August 5.

Thanks: ET.

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