IDBI enters into MoU with MITCON Consultancy Service Ltd
IDBI entered into a non-exclusive Memorandum of Understanding (MoU) with MITCON Consultancy Services Limited (MITCON) for jointly providing one-stop solutions to companies for undertaking Clean Development Mechanism (CDM) projects under the Kyoto ...
By TNN |
IDBI entered into a non-exclusive Memorandum of Understanding (MoU) with MITCON Consultancy Services Limited (MITCON) for jointly providing one-stop solutions to companies for undertaking Clean Development Mechanism (CDM) projects under the Kyoto Protocol.
The arrangement is a win-win for both the entities, as the former has expertise in project funding and CER trading while the latter has consulting expertise in project identification and registration of CDM projects with the United Nations Framework Convention on Climate Change (UNFCCC).
Under this arrangement, companies can get single-point assistance pertaining to origination and implementation of CDM projects, as well as advisory services on generation and trading of CERs.
Speaking on the occasion, Shri V P Shetty said, "We want to assist Indian companies, both large and small, who are keen on implementing CDM and selling the resultant CERs generated forward in the global markets. While sale of CERs gives companies additional revenue, IDBI stands to gain by way of additional fee income."
The arrangement is a win-win for both the entities, as the former has expertise in project funding and CER trading while the latter has consulting expertise in project identification and registration of CDM projects with the United Nations Framework Convention on Climate Change (UNFCCC).
Under this arrangement, companies can get single-point assistance pertaining to origination and implementation of CDM projects, as well as advisory services on generation and trading of CERs.
Speaking on the occasion, Shri V P Shetty said, "We want to assist Indian companies, both large and small, who are keen on implementing CDM and selling the resultant CERs generated forward in the global markets. While sale of CERs gives companies additional revenue, IDBI stands to gain by way of additional fee income."
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