Sri Lankan firms drawn to carbon trade

Oct 21, 2008 (LBO) – A host of Sri Lankan companies, especially plantations firms, have submitted proposals for projects to earn carbon credits by reducing greenhouse gas emissions, Ministry of Environment officials said.

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Most of the projects are for hydro-power projects, especially small or ‘mini-hydro’.

But there are others submitted by some firms, including listed ones, using methods like steam generated from coconut shell charcoal manufacture and paddy husk thermal power generation.

Other projects include wind power generation, disposal of solid waste generated in the capital Colombo, and replacing oil fired steam boiler with new wood fired boilers in factories.

Chandani Panditharatne, deputy director of the climate change division of the environment ministry, said the government wants to encourage carbon trading in Sri Lanka.

The Sri Lanka Carbon Fund, set up by the government, will promote projects such as renewable energy, biomass, waste management and sustainable transport, industrial and agricultural practices, she said.

The fund has an initial capital of 100 million