The Government of India has decided to ratify the Second Commitment Period (2013- 2020) of the Kyoto Protocol. Developing countries like India have no mandatory mitigation obligations or targets under the Kyoto Protocol.
The Clean Development Mechanism (CDM) under the Kyoto Protocol enables developed countries to invest in Clean projects in developing countries to gain emissions credits (Certified Emission Reduction-CER). Indian Industry has benefited from trading in CERs in the international market. Of late, due to lack of demand internationally, prices of CERs have been very low leading to low activities under this mechanism.
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