At 345 registered projects, India currently has the highest number of registered CDM projects (according to the CDM pipeline data for July 2008). But the total number of CERs generated by these projects is less than half of China's 221 registered projects. Moreover India currently only has 576 projects in the validation stage which will generate 1,75,442 kCERs, while China has 943 projects with a potential of 7,16,338 kCERs.
Thus, though India has the highest number of registered projects and the second highest number of projects at validation stage in the CDM pipeline, it is lagging significantly behind China in terms of the CERs generated. With its high numbers, China is currently ruling the carbon market and is supplying more than 50 per cent of the total volume.
Interestingly, if one only looks at the small scale CDM market, then India has the highest share and is ahead of China. India is supplying around 32 per cent of the CERs in the small scale CDM market, while China is supplying around 23 per cent. India should focus on its small scale sector and further build its expertise in this market. Indeed, small scale projects are more than 60 per cent of India's total CDM projects. And now the IPCC has started a new CDM category – Programme of Activities (POA) – wherein one only needs to register once for any number of projects which use the same baseline and monitoring methodology. This category will be especially useful for small scale projects as it cuts down costs while at the same time enabling a project developer to apply his small scale activity in multiple locations.
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