Electric bike companies eyeing at carbon offsets business

India's transport sector under the Clean Development Mechanism (CDM) is eyeing a share of carbon offsets business. The Delhi Metro Rail Corporation (DMRC) earned credits for using regenerative braking system, but now Bangalore Metro Rail Corporation (BMRCL) is all set to take the route. According to BMRCL managing director N Sivasailam, "The Union government has identified Emergent Ventures India to identify markets, develop benchmarks and sell credits. BMRCL will pay 9 percent to the firm only if carbon credits are secured." Besides Bangalore Metro, electric vehicle makers like Kabirdass Motor and Eko Vehicles are moving to cash in on carbon offsets. Chennai-based Kabirdass Motor Company has also appointed consultants to assess their carbon credit potential.Ian D'Cruz, country head, sales and marketing said that the company will kick off trading carbon credits in the next two years Bangalore-based Eko Vehicles with Swiss consulting group Grutter Consultants has already estimated an annual emission reduction of 386,889 tonnes in CO2. Anil Ananthakrishna, chairman and CEO, Eko Vehicles said "The company will be getting carbon credits equal to earnings of $4 million over a 10 year crediting period." Rohini Balasubramanian who is executive director of Grutter Consulting, said, "There is a growing interest to cash in on carbon offsets. As of now, we have seven clients. We are in talks with at least five other clients who are interested in getting carbon credits." The newly launched bikes in India are TVS Jive and Honda CB Twister.