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...That's because Toranagallu is also home to a 3,700-acre forest of puffing smokestacks that make up the Jindal South West steel factory. Opened a over a decade ago, Jindal South West has over the past several years claimed an estimated $150 million in carbon credits thanks to its internationally recognized status as a part of the Clean Development Mechanism (CDM) administered by the U.N. under the Kyoto Protocol. But while the steel plant's efforts to reduce its emissions may in a very small way be helping the earth's atmosphere, villagers complain any benefits are lost...

Author: /time Magazine | Title: An Indian Village Sees the Downside of Carbon Trading | 12/3/2009 | See Source »

...generating power through the burning of waste gas created during steel manufacture. In a bid for more carbon dollars, a second power plant was built. "The carbon revenues were a major factor in taking up these projects," says Suresh Iyer, the chief coordinator of carbon trading at Jindal South West. If a project is reducing carbon, he says, "we do take the initiative and put up the plant because of that." The second plant, which Iyer estimates cost the company $50 million to build, was approved by the CDM in January 2007 and now earns an estimated 700,000 CERs...

Author: /time Magazine | Title: An Indian Village Sees the Downside of Carbon Trading | 12/3/2009 | See Source »

...bucolic clumps of crape myrtle and mahogany trees, whose center is the Monumen Nasional - founding father Sukarno's heroic white obelisk. From its observatory deck, you'll see the Kali Besar, Jakarta' big canal dug during the city's prosperous days as a tropical spice-trading port, running north. South is Menteng, the early 20th century planned garden neighborhood where local élite, like the late Suharto's clan, reside. For them Jakarta again is a town of joy, booming with steel, glass and shining retail spaces. But Tales of Djakarta, in which the poor bathe in the canal...

Author: /time Magazine | Title: Sense of Place: Jakarta | 12/2/2009 | See Source »

...Besides the extra troops from the U.K., Italy, Georgia, Montenegro, South Korea and Turkey, have said they are ready to send more troops - though none have indicated numbers. Poland, Spain and Slovakia are thought to be considering reinforcements, along with non-European allies like New Zealand and Japan. But the Netherlands has already announced it is pulling out its 2,160 troops next year, and Canada will withdraw its 2,800-strong force by the end of 2011. (See pictures of the battle against the Taliban...

Author: /time Magazine | Title: Will Europe Answer Obama's Call for Troops? | 12/2/2009 | See Source »

...speedily and in consultation with Pakistan, there is a fear of a spillover effect." The same concern colors the thinking of the military establishment, which will be making the decisions that matter on the Pakistani side. "The army is caught in a conundrum," says Shuja Nawaz, director of the South Asia Center at the Atlantic Council. "It doesn't want the U.S. to leave in a precipitous manner, but it also concerned that by having more troops in Afghanistan, militants may be pushed into Pakistan." Other observers believe that the effects of any such spillover would be manageable. "The troops...

Author: /time Magazine | Title: Pakistan's Reaction to Obama's Plan: Departure Is Key | 12/2/2009 | See Source »

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