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September 20, 2007 13:17 IST
Union Commerce minister Kamal Nath says plantations that help reduce atmospheric carbon are eligible for claiming carbon credits under the Kyoto protocol.
Nath while addressing the 114th annual conference of United Planters Association of South India (Upasi) here on Monday an organized sysytem need to be evolved in claiming carbon credits.
According to the Kyoto protocol, one carbon credit can be earned by reducing a tonne carbon dioxide. One carbon credit is worth $10 as per the UN Framework Convention on Climate Change (UNFCC) guidelines.
The minister said government trade bodies, industry and should work together to streamline carbon credit claims.
Nath said the Kyoto protocol favors carbon credits for countries and organizations that plant new trees "where forests have been destroyed."
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