Indian tobacco giant turns carbon philanthropist
Author: Keya Acharya, Panos Features, Published on: 14 November 2006
Environmentalists and international justice groups are voicing their concerns over proliferating tree plantations, as developing countries try to profit from a growing carbon trade. The India Tobacco Company claims to have stepped into the carbon sinks business in order to benefit village communities. But who really profits?...With other big names in the Indian corporate world, like Reliance, Tata, Birla and Ambuja [Gujarat Ambuja Cements] also involved in CDM [Clean Development Mechanism] projects, India tops the world list of CDM ventures. But the country’s entire carbon trading system has been criticised, most notably by...Centre for Science and Environment (CSE), which says it has turned into a revenue system without adequate monitoring of sustainable development and local community benefits.