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VOL. 6, ISSUE 1 (2024)
Carbon credit trading
Authors
Aparna Vankore, Jaydeep Nikam
Abstract
Greenhouse gases. CO2 Dioxide Carbon CH4 Methane.
Nitrous oxide N2O. HFCs and SF6 Sulfur Hexafluoride cause
global warming. Since, CO2 is the dominant Greenhouse gas these are
generally referred as carbon gas. In order to save the world from global
warming. United Nations framework conventions on climate changes (UNFCCC) was
adopted in 1992 and Kyoto protocol was sign in 1997 as a follow-up measures.
Which came into force from 2005 Kyoto protocol fixed sailing on the emissions
of greenhouse gases (GHGs) by the developed countries. These countries have set
limits to (GHG) emissions by there on industry’s and others. The European union
in meeting its commitment under Kyoto protocol. Three market based mechanism
have been designed to encourage the reduction of greenhouse emission, which are
Clean development mechanism (CDM) Joint implementation (JI) International
emission trading (IET) The developed countries which are bound to reduce their
emission can discharge their commitments by purchasing the carbon emission
reduction entitlements (CERs) from the other countries which have implemented
Greenhouse gas reduction project. The CERs Carbon credits are traded in the
International and Indian commodity exchanges at market determined prices. In
India multi commodity exchange (MCX) has become the first Asian exchange to
trade in Carbon Credit. It has been reported that about 300 Indians companies
are already trade in Carbon Credits MCX. This study analyses the factors which
can affect carbon trading and hence the future Greenhouse gas emission.
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Pages:8-9
How to cite this article:
Aparna Vankore, Jaydeep Nikam "Carbon credit trading". International Journal of Ecology and Environmental Sciences, Vol 6, Issue 1, 2024, Pages 8-9
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