IMaCS expands energy practice for carbon management

New Delhi: ICRA Management Consulting Services Ltd (IMaCS), the management consulting arm of ICRA Group, announced that it was expanding its energy practice to enter the consulting services market for carbon management.

“Consulting services for carbon management is a natural extension of IMaCS energy practice. IMaCS will provide end-to-end solutions and assist project developers to earn as well as sell certified emission reduction (CERs),” Mr R. Raghuttama Rao, Managing Director, IMaCS, told reporters here.

The consulting services market for carbon management has been recording strong growth over the last four-to-five years, with the current market size being pegged at about Rs 100 crore. “Being a late entrant will not be a disadvantage as we are providing a service in a niche area,” Mr P.K. Choudhury, Group CEO of ICRA, said.

Mr Rao said that IMaCS would focus attention only on Clean Development Mechanism (CDM) projects. He expects the supply of CDM projects from India to be strong in the coming days. It is estimated that the CDM market has associated revenues of over $30 billion per annum. India is a low-cost supply base for carbon abatement instruments and is expected to contribute about 20 per cent of the total CERs likely to be generated globally.

The primary target clients for IMaCS for this new offering are various kinds of buyers, including international and Indian financial institutions, carbon funds, insurance companies and CER buyers from across the world.