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Q.

What are carbon credits?

Tags: carbon credits
Asked by Pushkar Inamdar, 20 Mar '08 10:44 pm
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Answers (1)

 
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In MUMBAI Multi Commodity Exchange (MCX) on Monday launched futures trading in Carbon Credits, making it
Asia's 1st ever commodity exchange, and among the select few in league with the Chicago Climate Exchange and the European Climate Exchange.
Carbon credits are a key component of national and international emissions trading schemes that have been implemented to mitigate global warming. They provide a way to reduce greenhouse effect emissions on an industrial scale by capping total annual emissions and letting the market assign a monetary value to any shortfall through trading. Credits can be exchanged between businesses or bought and sold in international markets at the prevailing market price. Credits can be used to finance carbon reduction schemes between trading partners and around the world.
For each tonne of carbon dioxide (the major GHG) emission avoided, the entity can get a carbon emission certificate which they can sell either immediately or through a futures market, ju ...more
Answered by drdinesh sharma, 20 Mar '08 11:11 pm

 
  
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