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Q.

What is meant by carbon credit?

Tags: carbon credit
Asked by i nick, 19 Dec '07 01:18 pm
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Answers (2)

 
1.

Carbon credits are a key component of national and international emissions trading schemes. 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.

There are also many companies that sell carbon credits to commercial and individual customers who are interested in lowering their carbon footprint on a voluntary basis. These carbon offsetters purchase the credits from an investment fund or a carbon development company that has aggregated the credits from individual projects. The quality of the credits is based in part on the validation process and sophistication of the fund or development company that acted as the sponsor to the c ...more
Answered by GOPI KUMAR, 19 Dec '07 01:20 pm

 
  
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We are releasing carbon di oxide and other gases like methane CFC etc into the atmosphere and these gases contribute to global warming. These gases are released as these are used in our techonlogy and because of the rapid development. These gases which contribute to global warming are known as Green House Gases. The developed nations are emmiting Green House Gases (GHG) into the atmosphere. CO2 is one such GHG. Although the developing nations are also releasing GHG but their contribution is much lower as compared to the developed nations. The developed nations are finding it difficult to control the release of GHG so they are opposing any sort of binding on them. Now the question arises that if the developed nations are releasing more GHG, why are the developing nations or under developed nation so much worried? It is because the effect of global warming will affect all - rather the developed, developing and the under developed nations and the poor nations will be hit harder as their r ...more
Answered by Abhijit Banerjee, 19 Dec '07 01:38 pm

 
  
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