Market-based incentives for additional greenhouse gas emission reductions for project activities offer new opportunities in developing countries. The revenue from Clean Development Mechanism (CDM) projects can ensure financial viability of energy conservation and cost reduction measures in many industries. Carbon credits generation activity is growing at 80% in India. Though India has the highest number of registered CDM projects in the world, CDM has yet to become popular among small and medium enterprises (SMEs).

It is well known that certain naturally occurring trace gases in our atmosphere trap radiant heat from the sun and give rise to the greenhouse effect. In the post-industrialisation era, some manmade greenhouse gases are being added to the atmosphere and are contributing to enhanced greenhouse gas effect or global warming. Global warming is not yet fully understood since it's a complex climate phenomenon. Carbon dioxide (CO2)

By improving energy efficiency - using less energy to perform the same tasks - global ener- gy demand could be reduced by 12 per cent by 2030, saving $766 billion in building new energy infrastructure. For every $1 invested in improving energy efficiency, we would save more than $2 in infrastructure investment BY NOELEEN HEYZER

As much as 40 per cent of the world's energy is directly used in buildings, and if the indirect consumption is added

Speakers at a workshop called for taking up projects to reduce greenhouse gas emissions under the Clean Development Mechanism (CDM), which would also help sustainable development of the country. The CDM is an arrangement under the Kyoto Protocol allowing developed countries, which emit most greenhouse gases, to invest in projects that reduce emissions in developing countries as an alternative to more expensive emission reductions in their own countries.