FaL-G Bricks to offer Carbon Credits to World Bank

Washington 6-12-2002

In a high level meeting at the Head quarters of World Bank, discussions were held by Dr Bhanumathidas and Kalidas to bundle FaL-G brick units for transfer of Carbon Credits under Community Development Carbon Fund (CDCF). The World Bank team was lead by Mr Chandra Shekhar Sinha, Manager, Netherlands Clean Development Facility.

World Bank has set up a division called Prototype Carbon Fund (PCF) to identify CDM projects in developing countries and transact carbon credits. PCF identified FaL-G brick plants as the potential source for carbon credits, and desired to offer US$ 10 million in 2000. But, Government of India has ratified the Kyoto Protocol only in August 2002. During a presentation on CDCF by World Bank at COP8 this subject was discussed again. CDCF is another fund of US$ 100 million to assist CDM projects with a linkage to Community Development.

FaL-G units have been identified for their contribution to massive entrepreneurial development and employment potential. For having no need to sinter bricks in the lines of clay brick, each million FaL-G bricks can abate around 300 tons of CO2. It is proposed to bundle over 200 units and offer about 160,000 tons of CO2 credits annually.