Iran’s Fuel Conservation Organisation (IFCO) has announced plans to set up a carbon trading market to reduce industrial emissions of climate-warming gas, Reuters has reported. Although Iran has some large hydro-power plants, heavy subsidisation of fossil fuels means there is little incentive for private investments in wind or solar power projects. “Reducing energy consumption and capping carbon emission are two sides of the coin. When energy consumption declines, carbon emission will also fall,” Mehdi Sharif, director of energy efficiency at IFCO, a subsidiary of the National Iranian Oil Co, said.
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