Gujarat Flourochemicals up on Carbon Credits Award

India Infoline News Service | Mumbai |

NA

Gujarat Flourochemicals Ltd., has been awarded carbon credits for the first time since the United Nations concluded a probe into projects claiming emission reductions of industrial gases.


At 10:22 am (IST) the shares of  Gujarat Flourochemicals were up 6.8% at Rs 269.7.


The UN Clean Development Mechanism said on its that it awarded 2.4mn credits to the company for preventing its plant in Ranjitnagar in Gujarat state from venting hydrofluorocarbon-23, or HFC-23, a by-product of refrigerant production and potent greenhouse gas, into the air, said a financial daily.


The issuance ended an 11-month period in which Gujarat Flourochemicals didn’t receive any new credits amid a UN review of HFC projects after environmental group CDM Watch said some companies may be increasing HCFC-22 output simply to generate credits. 


Such credits are bought by companies and nations to comply with limits on emissions of greenhouse gases, adds report.


BSE 699.00 [13.75] ([1.93]%)
NSE 698.00 [16.80] ([2.35]%)

***Note: This is a NSE Chart

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.