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By: DIVINE KAUR CARBON CREDIT
Birth of Carbon Credit Concept of Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accountants
The Major Concern… <ul><li>GLOBAL WARMING </li></ul>
Green house gases leading to  Global Warming <ul><li>CO 2 </li></ul><ul><li>Methane </li></ul><ul><li>Nitrous Oxide </li><...
Birth of UNFCCC In 1992, Rio Brazil Objective… Green House Gases should be stabilized within a time frame.
The  KYOTO  PROTOCOL… An agreement signed in December 1997 in Kyoto, Japan
KYOTO PROTOCOL Annexure 1  Non Annexure 1 Developed Developing Under developed
The Kyoto Protocol…… Objective Reduction of Green House Gases emission by developed countries in the The First Commitment ...
DID YOU KNOW???? WHY
Birth of  Carbon Credit Concept of Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accounta...
What is  Carbon Credit  under the  KYOTO  Protocol… A credit for reducing 1 ton of CO 2 (Green House Gases)  from the atmo...
How to generate  Carbon Credits??? CARBON CREDITS
METHANE CO 2 METHANE CO 2 EARN CARBON CREDIT METHANE
USE OF  CARBON CREDITS IN EMISSION REDUCTION
REDUCTION NATIONAL MEASURES ADDITIONAL MEASURES THE FLEXIBILITY MECHANISM
FLEXIBILITY MECHANISM Clean development Mechanism Joint implementation Emission trading Project based
Emission Trading Developed country A (needs CC) Developed country B Sell these carbon credits Payment for CC Earns carbon ...
Joint Implementation Developed country A (needs CC) Developed country B Sets a project Sell carbon credits Earns carbon cr...
Clean Development Mechanism (CDM) Developed country  (needs CC) Developing  Country Sells carbon credits  Sets a project E...
Concept of VER’s VER Countries not committed to the protocol Voluntary Emission Reduction OR Verified Emission reduction
  What should be the price of  carbon???? At present, price of 1 carbon credit  is 10 Euro to 15 Euro
Birth of  Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accountants Concept of Carbon Cre...
Market for Carbon Trading……  Currently there are 5 Environmental Exchanges, trading in Carbon Credits POWER NEXT EUROPEAN ...
India’s Stance in Carbon Credits
India along with China, lead countries in earning  Carbon Credit
<ul><li>  India pocketed  Rs 1,500    crores  in the year 2005    just by selling carbon    credits to developed-   countr...
Some of the Leading companies of India using & selling Carbon Credits… GUJARAT FLOUROCARBONS Ltd.
SRF… . The major beneficiary of reducing GHG gases
Birth of  Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accountants Concept of Carbon Cre...
Concern for  The Chartered Accountants ….
ACCOUNTING TREATMENT
Present Accounting  treatment….. Treatment under IFRS Treatment under US GAAPS Treatment under AS IAS 20 (Government grant...
Tax Treatments <ul><li>Will there be any tax on  </li></ul><ul><li>Carbon Credits  ?????? </li></ul>If there is income the...
OR CER Transaction Tax TAX TREATMENT INDIRECT TAX DIRECT TAX Income from CER’s Other Income Business Income Goods Services...
However, NO set Accounting or Tax Treatment has yet been decided
Scope for  Chartered Accountants
Other opportunities….. As an auditor….  In audit of Carbon Trading As a Carbon Trading Consultant Carbon Trading Broker
Birth of  Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accountants Concept of Carbon Cre...
What after 2012… End of Commitment Period??? NOT SUCCESSFUL THE COPENHAGEN CONFERENCE
Thank You……
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Carbon credits

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Presentation on the current issue of Carbon Credits, what it is, how is the accounting done, what are its benefits and various other issues.

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Carbon credits

  1. 1. By: DIVINE KAUR CARBON CREDIT
  2. 2. Birth of Carbon Credit Concept of Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accountants
  3. 3. The Major Concern… <ul><li>GLOBAL WARMING </li></ul>
  4. 4. Green house gases leading to Global Warming <ul><li>CO 2 </li></ul><ul><li>Methane </li></ul><ul><li>Nitrous Oxide </li></ul><ul><li>Hydroflourocarbon </li></ul><ul><li>Sulphur Hexaflouride </li></ul><ul><li>Perflourocarbon </li></ul>CO 2 t-e…… one tonne of CO 2 equivalent
  5. 5. Birth of UNFCCC In 1992, Rio Brazil Objective… Green House Gases should be stabilized within a time frame.
  6. 6. The KYOTO PROTOCOL… An agreement signed in December 1997 in Kyoto, Japan
  7. 7. KYOTO PROTOCOL Annexure 1 Non Annexure 1 Developed Developing Under developed
  8. 8. The Kyoto Protocol…… Objective Reduction of Green House Gases emission by developed countries in the The First Commitment Period (2008-2012)
  9. 9. DID YOU KNOW???? WHY
  10. 10. Birth of Carbon Credit Concept of Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accountants
  11. 11. What is Carbon Credit under the KYOTO Protocol… A credit for reducing 1 ton of CO 2 (Green House Gases) from the atmosphere
  12. 12. How to generate Carbon Credits??? CARBON CREDITS
  13. 13. METHANE CO 2 METHANE CO 2 EARN CARBON CREDIT METHANE
  14. 14. USE OF CARBON CREDITS IN EMISSION REDUCTION
  15. 15. REDUCTION NATIONAL MEASURES ADDITIONAL MEASURES THE FLEXIBILITY MECHANISM
  16. 16. FLEXIBILITY MECHANISM Clean development Mechanism Joint implementation Emission trading Project based
  17. 17. Emission Trading Developed country A (needs CC) Developed country B Sell these carbon credits Payment for CC Earns carbon credits called Assigned Amount Units
  18. 18. Joint Implementation Developed country A (needs CC) Developed country B Sets a project Sell carbon credits Earns carbon credits called Emission Reduction Units
  19. 19. Clean Development Mechanism (CDM) Developed country (needs CC) Developing Country Sells carbon credits Sets a project Earns carbon credits called Certified Emission Reduction
  20. 20. Concept of VER’s VER Countries not committed to the protocol Voluntary Emission Reduction OR Verified Emission reduction
  21. 21. What should be the price of carbon???? At present, price of 1 carbon credit is 10 Euro to 15 Euro
  22. 22. Birth of Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accountants Concept of Carbon Credit
  23. 23. Market for Carbon Trading…… Currently there are 5 Environmental Exchanges, trading in Carbon Credits POWER NEXT EUROPEAN CLIMATE EXCHANGE
  24. 24. India’s Stance in Carbon Credits
  25. 25. India along with China, lead countries in earning Carbon Credit
  26. 26. <ul><li> India pocketed Rs 1,500 crores in the year 2005 just by selling carbon credits to developed- country clients. </li></ul><ul><li>India has generated 30 million </li></ul><ul><li>Carbon credits & 140 million </li></ul><ul><li>are in pipeline </li></ul>
  27. 27. Some of the Leading companies of India using & selling Carbon Credits… GUJARAT FLOUROCARBONS Ltd.
  28. 28. SRF… . The major beneficiary of reducing GHG gases
  29. 29. Birth of Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accountants Concept of Carbon Credit
  30. 30. Concern for The Chartered Accountants ….
  31. 31. ACCOUNTING TREATMENT
  32. 32. Present Accounting treatment….. Treatment under IFRS Treatment under US GAAPS Treatment under AS IAS 20 (Government grants) currently no guidance note available currently no accounting standard available
  33. 33. Tax Treatments <ul><li>Will there be any tax on </li></ul><ul><li>Carbon Credits ?????? </li></ul>If there is income there will be tax…
  34. 34. OR CER Transaction Tax TAX TREATMENT INDIRECT TAX DIRECT TAX Income from CER’s Other Income Business Income Goods Services VAT, etc Service tax
  35. 35. However, NO set Accounting or Tax Treatment has yet been decided
  36. 36. Scope for Chartered Accountants
  37. 37. Other opportunities….. As an auditor…. In audit of Carbon Trading As a Carbon Trading Consultant Carbon Trading Broker
  38. 38. Birth of Carbon Credit Growth of Carbon Credit & India’s Position Concern for Chartered Accountants Concept of Carbon Credit
  39. 39. What after 2012… End of Commitment Period??? NOT SUCCESSFUL THE COPENHAGEN CONFERENCE
  40. 40. Thank You……
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Presentation on the current issue of Carbon Credits, what it is, how is the accounting done, what are its benefits and various other issues.

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