Carbon audit and formulating carbon strategy for IIMB

Abstract

With the increase in the awareness of the harmful effects caused by rise of GHG in the atmosphere, many countries pledged to reduce their emissions without staggering their growth. In accordance with that they introduced initiatives like carbon trading, carbon tax etc, which presented incentive for the final users to reduce their carbon emissions. These initiatives though implemented at a large scale in certain countries haven't decreased the emissions to the required extent because of certain leakages and externalities in the system. India being the fourth largest emitter of GHG emission pledged to reduce its emissions and there by implemented initiatives which are already popular in other countries. The success and failure of these initiatives can't be judged at the short span of time. The benefit of GHG reductions not only includes the social benefits but also helps in reducing the cost of operation and in some cases acts as a source of income. As educating the people is one of the important requirements for the success of this program, this awareness must start at an early age in the life of man. This helps in grooming an individual to take decisions considering the environmental impact of it. In all the above activities calculating the carbon footprint is an important activity, which if taught to students at an early age will understand the benefits of the environmental friendliness. Hence a methodology is developed to calculate the carbon footprint of any educational institution and implement it in case of IIMB. In case of IIMB the carbon footprint is calculated even from the demand side and the difference between the two is analyzed. Based on the carbon footprint certain strategies are proposed to decrease the carbon footprint and there by save the costs.