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Carbon Trading refers to the
buying and selling of the right to release carbon dioxide or greenhouse gases
into the environment by various countries. The carbon trade across the world
began in 1997 with the signing of Kyoto protocol in Japan by 180 countries. The
Kyoto protocol called for 38 industrialised countries to reduce their
greenhouse gas emission.
Growing environmental pollution
across the world has been a cause of concern to everyone. Rapid development and
industrialisation have only added to the problem. Carbon is an element stored
in fossil fuels such as coal and oil when these fuels are burnt, carbon dioxide
Carbon trading is like
any other market trading. Carbon has been given economic value allowing people,
companies or nations to trade it. If a company purchases carbon, it gets the
right to burn it. Similarly, the country selling it, gives up the right to burn
it. The carbon’s value is based on the ability of the carbon owning country to
store it and prevent it from release into the atmosphere.