WB pats suburban rlys on carbon credit

The Mumbai Railway Vikas Corporation (MRVC) will soon get brownie points from the World Bank (WB) for applying brakes on the carbon dioxide emissions and the project idea note, the project design document all new terms for a common man are already in the making with help from the consultancy firms.

Radical steps taken by the MRVC to check carbon emissions in its own backyard have earned the implementing agency much praise from the WB, including the potential to earn carbon credits. DNA in February 5 edition had first reported about MRVC being able to trade in carbon.

“The PIN prepared by MRVC has been submitted to the Clean Development Mechanism executive board in Bonn at Germany,” informed PC Sehgal, MRVC managing director.

Sehgal could not resist his enthusiasm while narrating how an impressed WB representatives assured to lend their consultancy help to bolster the agency’s efforts in controlling emissions.

However, this will happen only after the new rakes start operating on the suburban tracks which according to MRVC will open in October. The city will get nine more rakes by March next.

“With the new electrical multiple units rakes, the MRVC would reduce its power consumption by nearly 35-40 per cent, translating into Rs80 crore savings,” Sehgal said.

About the procedure of getting the carbon credit, Gaurav Joshi, WB carbon finance specialist (South Asia Region) said, “MRVC submitted a Project Idea Note to the Clean Development Mechanism in Bonn in Germany. Based on this note, a PDD would be designed. The CDM executive board verifies this document.

This is further sent for verification to a set of auditors (verifiers) who would then issue a certified emission reduction report to the board.”

Naval Karrir, president of Sustainability Synergies, consultant for this project, said, “The auditors would be responsible for actually examining the extent of
carbon emission.”