India Business
ITC Sonar Bangla first hotel to get carbon credits
May 4, 2007 - 5:15:19 PM

Kolkata, May 4 - The ITC Sonar Bangla here has become the first hotel in the world to obtain Certified Emission Reductions - issued under the aegis of the United Nations Framework on Climate Change Convention, officials said Friday.

These CERs, also known as carbon credits, are issued under the Clean Development Mechanism - of the Kyoto Protocol.

'The CERs have been issued after an exhaustive evaluation process. Carbon Dioxide emission reduction has been achieved through energy conservation initiatives such as waste heat recovery, improved pumping systems and better efficiencies in the air conditioning system,' an ITC official said.

'Not only have the energy conservation initiatives helped reduce the environmental footprint of ITC Sonar Bangla and earned tremendous goodwill from all stakeholders, the hotel will save Rs.8.3 million per year, nearly 19 percent of the hotel's total annual energy bill,' he said.

'The sale of CERs will provide an additional revenue of more than Rs.15 million over the next few years. This achievement opens the door for the entire services sector to invest in clean development mechanisms and support global efforts in mitigating adverse effects of climate change caused by global warming,' he added.

'The achievement reflects ITC's commitment to contributing to the `triple bottom line' of economic, social and environmental capital of the country. This approach has already made ITC a carbon and water positive corporation and will make it a `zero solid waste' company in the next two years,' a company statement said.

A Certified Emission Reduction - is the technical term for the output of Clean Development Mechanism - projects. The CER is a unit of greenhouse gas reduction - that has been achieved and certified under the provisions of Article 12 of the Kyoto Protocol.

These CERs are tradable internationally with certain countries earning points by selling environment-friendly technology to others.

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