India, China poised to profit from Kyoto

India, which is exempt from reducing carbon emissions under the Kyoto Protocol is nonetheless set to capitalize on the carbon trading business that Kyoto will spawn:

With renewed global concern over climate change, carbon trading is emerging as a major business prospect for India Inc, which is eyeing a $100-billion annual potential in this area, says a World Bank expert.

and which countries are going to benefit the most?

According to statistics available with the United Nations Framework Convention on Climate Change (UNFCCC), out of 844 projects registered under the CDM scheme, as many as 289 are from India, accounting for 34.24 per cent of the total.

China ranks next with 131 projects, or 15.52 per cent...

Surprise. Like India and other developing countries, the People's Republic of China - the Number One emitter of CO2 - is also EXEMPT from reducing its carbon emissions under Kyoto.

Via the Indo-Asian News Service