The Mumbai Metro Rail project has been in the news for decades. However it is only very recently that it became a real project and is being executed. When completed it will alleviate a lot of the pressure on the local train systems.
Interestingly it will also earn carbon credits.
BL reported that, after Delhi metro rail, it’s the turn of the Mumbai Metro rail project to earn carbon credits. The project will generate 651,938 carbon credits between 2011 and 2020. At the current market price of about INR 1,320, the credits will generate revenue of INR 86.05 crore.
Mumbai Metro One Private Limited, the special purpose vehicle for the project, has submitted a detailed methodology report to the executive board of the United Nations Framework Convention on Climate Change seeking clean development mechanism registration for the project. [link]
Carbon credits are a key component of national and international emissions trading schemes that have been implemented to mitigate global warming. More about that on wikipedia.