abc-tiff

oikos MMC Blog Competition: My meaningful career that creates impact

Energy in today’s world is one of the most sought after and precious commodity. Nations try to strike a balance between today’s growth versus tomorrow’s existence. The only way it can be achieved is through sustainable development without compromising future for present and vice-versa. It is the dimension which needs to be taken care of by both the developed and developing nations. The idea of contributing towards green energy promotion across the world, with my technical expertise and business acumen, fascinates me.

I have always been interested in developing technologies which led me to choose electrical engineering. I have done major project on “simulation of PI-controller for AC servo motors using Pspice software” during my final year of B.Tech at  MANIT. During the job, I got interested into the possibilities carbon credit trading has to offer and I went on studying carbon credit market and presented a technical paper on it at NPTI.

Having work experience of 35 months in power sector (PGCIL); I wanted to further my career as a sustainable-energy consultant after MBA from IIM-Calcutta. At PGCIL I worked in HVDC department where I came to know about the potential HVDC & FACTS technologies have had for green energy through wind farms and solar farms. I got the opportunity to participate in and learn from Empower India-2011 with a theme of ‘green energy and energy efficiency’. It was conducted by Urjawaran Foundation in collaboration with BEE, Ministry of Power, Ministry of New & Renewable Energy and Ministry of Consumer Affairs, Food and Public Distribution.

Through all these learning, it became clear that Green technologies are beneficial but in long-run only. In short-run they are expensive, therefore not likely to be adopted by corporations unless forced.

The idea of making this scenario a win-win situation both for environment and corporation intrigued me.

As an answer to them I came up with the following ideas:

1. Funding green projects through carbon trading in developing countries like India e.g.  bulk transmission project for green energy.

2. Convincing firms to contribute their part of CSR spending towards green technologies after GOI instructed firms to contribute 2% of their profit on CSR.

Let us have an example of PGCIL which is already using its CSR activities for the welfare of the localities and towns falling in its ‘right of way’ of transmission lines.

I want to further my quest after graduation as a sustainable-energy consultant working independently.  Oikos & More than Money careers are rich at resources, I expect them to help me out in implementing the international proceedings required for registering and auditing the carbon credit projects while I can directly pitch-in with the energy firms and convince them to implement these projects.

Few points I want to cover in next few months to come:

1. Gain more knowledge about the conditions required by UNFCCC for the firms to implement carbon trading.

2. Exact requirements companies need to full-fill, expected expenditure, rate of return affected by bringing in these projects.

3. How firms can reap benefits by enrolling in CCX or EEX.

4. Compile and come-up with a comprehensive report on the status of firms who are having/ not-having dealings in carbon credit and how can I approach them in the areas where they have potential to build-on.

During first 5 years I will be targeting Indian energy firms. Hopefully I will be able to impact quite significantly especially in power projects. Later on, I would look forward for renewable energy and infrastructure projects in India and in outside world.

By Saurabh Shrivastava

Saurabh is a student at IIM Calcutta and is a member of the oikos chapter there.

14 thoughts on “oikos MMC Blog Competition: My meaningful career that creates impact

  1. Rahul Kumar

    I am fascinated by the concern you have for one of the most check-mate situation facing us today. The concept of carbon-credit trading for funding green projects seem to be a very logical approach in this quest. In my opinion, the major hurdle in the way is keeping a track of the emissions by different corporations as under reporting and flouting ground rules has been the norm in recent past.
    Your initiative might help us address this issue.
    Looking forward to some concrete steps on this. All the best.

  2. Abhishek

    Saurabh, your efforts to contribute towards sustainable development are much appreciated. However, you must keep in mind that carbon trading might not be the panacea for all of our woes. It will be worthwhile for you to deep delve into how you would bring the idea of carbon trading to developing countries which do not have any binding targets (at lest till 2020) and hence, probably do not take actively take part in the carbon trading. Even in the developed world, success of carbon trading can be considered to limited at best. With many countries facing economic woes, there is not much demand for carbon certificates. I believe the future for our country lies in developing real infrastructure at ground which would promote sustainable practices. Mandating a fixed % of government earnings from CSR towards funding sustainable projects is an excellent idea.

    Giving tax breaks to green companies, making consumers more aware about BEE labeling can be some of the small steps in the right direction. As your focus is on power projects which usually are very capital intensive, PPP route could be explored.

  3. Udayan Sharma

    Well articulated . The issue of the tussle between our energy needs and environmental considerations is a pressing one.Your article presents a pragmatic view ,extending beyond just the concern for environment to a more engaging approach towards striking the right balance.
    Would love to read more of your thoughts on this topic, in the days to come .

    Cheers :)

  4. Bhavya Anand

    Well Written. Going good. We are going through a really challenging phase, with one foot on speed boat pushing for development and other on a raft propelling through sails. If speed is needed environment is compromised and vice versa. Over and above the mandatory part which you have highlighted above spending on R&D should also be increased. Until and unless the initial and running cost for Green technologies is not in the competitive range to their non-Eco friendly siblings, it is really difficult to force any one to rush for them.

  5. Ashish Kumar

    Commitment towards Green technologies in particular and sustainability in general is really commendable. Being worked at PGCIL you have technical know-how of the issue and MBA from IIM Calcutta will provide you opportunities to look at these aspects in a holistic manner but nonetheless your self-drive is appreciable and today country needs many like you :) Best wishes for your endeavors :0

  6. Saurav Sahay

    Hello Saurabh,
    First of all let me congrats you, it’s written in very lucrative manner & keep reader bound till end.
    About the topic, there is no doubt about it that we have to go for sustainable development and there is no escape. Also the centre as well as many state governments government has taken a strong stand for renewable resource development. MNRE (Ministry of New and Renewable Energy) also have ambitious targets to add 20000 MW of renewable generation. CERC also introduced REC (Renewable Energy Certificates) which are somewhat like Carbon Credit & tradable in Electric power Market. Many SERC(state electricity regulatory commission) has also made it mandatory for power distribution company under their jurisdiction to purchases a minimum quantum of power from renewable resources. Hope all these help in making sustainable development more acceptable.
    About price & all I think now it became more of an administrative issue than a technical one. Price cannot be brought down unless competition is introduced in this sector. Hopefully by making market more open as well as by introducing right policy this will be taken care by GOI in due course of time.
    Al though I totally agree with you that we have no option left but to go for sustainable development. But I still have some doubt particularly with the example with that you have written “bulk transmission project for green energy” . As no one can discriminate the colour of power flowing through a transmission line (whether it is green or grey :) ). Making this type of projects to be eligible for carbon credit will make a loop hole of which many developers may take an undue advantage. And our purpose for sustainable development may be defeated. So while deciding the projects which should be eligible for getting Carbon credit should be thoroughly scrutinize and only those projects should be issued Carbon credit which really help in making our planet a better place to leave.

  7. Saurabh Shrivastava, author of this post

    @all……. Thanks for sparing time and coming up with genuine concerns regarding the post. Also, my sincere thanks for your appreciations.

    Now let me address the concerns you guys raised:
    @abhishek: To satisfy you query
    1. it’s already been taken by companies in developing nation India like ONGC and Adani Group BHEL & NTPC (need not to mention that include power project also.)
    2. In developed countries like U.S. you have rightly mentioned that it has not ratified but there are U.S. companies who volunteered for this kind of project.
    3. Nowhere in the post I have mentioned carbon trading a panacea for all woes, rather I am looking at it as one of the funding options which can be explored.
    4. GOI through BEE has continuously taken initiative to raise star rating requirement for appliances.
    5. Yeah PPP is a good idea; I considered that and will be taking further in implementation stage of project.

  8. Saurabh Shrivastava, author of this post

    @Mohan Singh Rajput…..

    Answers to the link you provided

    Don’t confuse it with R & D project which explores means of energy without using oil, coal and gas.

    Rather this tries to make a balance between emission of total world output. And for doing so incentivize those who can, and making them pay who can’t without stopping anyone’s development.

    Carbon trading’s basic aim is to facilitate developing nations with the efficient technology thus reducing carbon emission. But why they will go to use those technologies which are expensive, so no incentive for them? So, it makes cap-and-trade option for these countries to sell their credit which they will be saving while using (a) efficient technology (b) doing green projects.

    Now who will give these countries money, as you know developed nations have huge need for energy consumption they can’t stop their factories. So, this cap-and-trade policy ‘push’ them to borrow credits thus paying money to developing nations.

  9. Saurabh Shrivastava, author of this post

    @Mohan Singh Rajput…..

    Answers to the link you provided

    Don’t confuse it with R & D project which explores means of energy without using oil, coal and gas.

    Rather this tries to make a balance between emission of total world output. And for doing so incentivize those who can, and making them pay who can’t without stopping anyone’s development.

    Carbon trading’s basic aim is to facilitate developing nations with the efficient technology thus reducing carbon emission. But why they will go to use those technologies which are expensive, so no incentive for them? So, it makes cap-and-trade option for these countries to sell their credit which they will be saving while using (a) efficient technology (b) doing green projects.

    Now who will give these countries money, as you know developed nations have huge need for energy consumption they can’t stop their factories. So, this cap-and-trade policy ‘push’ them to borrow credits thus paying money to developing nations for these projects.

  10. Saurabh Shrivastava, author of this post

    @Saurav Sahay….
    First. let me appreciate your suggestions. Regarding the doubt you have:

    1. By bulk transmission I proposed using HVDC for onshore and offshore wind farm projects. As an example HVDC Light project by ABB.

    2. Well, I am speechless about the other observation “As no one can discriminate the colour of power flowing through a transmission line (whether it is green or grey )”

    But yeah, by ‘green energy’ I mean green energy.

    3. UNFCCC have provision to assign auditors for these projects and it is not that just by registering you will get the payment for project. These auditors will register, certify, validate,measure, monitor and enforce the mechanism after proper scrutiny. Also, they will evaluate the potential of your project on extrapolation basis.

    I hope this helps.

  11. Saurabh Shrivastava, author of this post

    Here are the concerned links in accordance to my replies above:
    @abhishek……

    1. ONGC: panchabuta.com/2012/06/29/ongc-gets-over-120000-carbon-credit-for-its-51mw-bhuj-wind-farm/

    Adani: http://prosperingindianpowersector.blogspot.in/2010/06/adani-power-two-projects-to-earn-carbon.html

    BHEL & NTPC: http://articles.timesofindia.indiatimes.com/2008-05-12/india-business/27752936_1_mw-power-plant-coal-greenhouse-gas-emissions

    2. U.S. companies who volunteered : http://www.nytimes.com/2006/12/28/business/28carbon.html?pagewanted=print&_r=2&

    @ Saurabh Sahay………

    1. bulk transmission project for green energy:
    http://www.abb.co.in/industries/db0003db004333/81d7482596693154c125748200482a80.aspx

    2. Green energy:
    http://en.wikipedia.org/wiki/Sustainable_energy#Green_energy

  12. Abhinav Sinha

    The strict implementation of point saying corporates will not pour money into green energy unless forced is the need of the hour. Bravo!! Mr. Shrivastava. Very thought provoking and crisp article. Governing bodies must realise that earlier they introduce investment in green energy , better it will be for the sustainable development for the planet.

  13. Shruti Tiwari

    Pretty good post. Your efforts to contribute towards Sustainable development are laudable. Bringing out various dimensions for funding of green technology esp. carbon trading is insightful. Promoting green technologies is the need of the hour to protect the environment from degrading further. Mechanisms to enhance Investment in this regard need to be explored further.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>