German firm TUV SUD to manage validation of Indian CDM projects
TUD SUD, a German firm engaged in the area of climate change projects, has said it will manage the validation and verification of Clean Development Mechanism (CDM) or emissions reduction projects from India.
CDM projects generate Certified Emission Reduction units which are traded in emissions trading schemes.
The Executive Board of the United Nations Framework Convention on Climate Change (UNFCCC), in its 69th meeting, approved the relocation of the Designation Operational Entity (DOE), which is responsible for all CDM projects worldwide that are validated and verified by TUV SUD, from Munich to Pune.
"The relocation of the Designated Operational Entity (DOE) to India marks an important step which we are taking to cater to the significance of the newly industrialised countries (NICs) and the Asia Pacific Region for the Clean Development Mechanism," said Bratin Roy, Assistant Vice President of TUV SUD South Asia.
The firm is amongst the first companies to be accredited as DOE for the CDM and as Accredited Independent Entity (AIE) for Joint Implementation (JI) projects on behalf of the UNFCCC.
While the CDM applies to climate-change projects in developing and newly industrialised countries, JI projects are aimed at promoting climate-change measures in industrialised countries.
"Although our CDM auditors will remain located at our subsidiaries in the individual regions, the responsibility for, and management of all CDM projects will move to TUV SUD South Asia in the future," said Dr Boris Gehring, CEO of the Industry Service Division of TÜV SÜD AG.
The relocation of the DOE is also of great symbolic importance, Gehring said adding, "It demonstrates that we do not see India, China and other Asian countries as an 'extended workbench', but as equal partners in our global networks."