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. A 'carbon credit', sometimes referred to as an offset, is a permit to emit a specified amount of greenhouse gases, usually expressed in metric tonnes of carbon dioxide equivalent (CO2e). 'Carbon credits' are named after the most prominent greenhouse gas, carbon dioxide, but can represent other warming gases. Carbon dioxide equivalent (CO2e) is a metric used to compare the global warming potential of various greenhouse gases. For example, the contribution of methane to global warming is rated as 21 over 100 years. This means that an emission of one metric tonne of methane is equal to emissions of 21 tonnes of carbon dioxide. Carbon credits can be earned through projects that reduce emissions, or by companies that cut their own emissions and thereby free up credits they possess for trading. Carbon markets exist wherein which companies may purchase and sell credits. By the way of an example, consider a business that owns a factory putting out 100,000 tonnage of greenhouse gas emission in a year. So the factory either reduce its emission to 80,000 tonnage or is required to purchase to purchase the carbon credit to offset the excess. www.scribd.com

Carbon Credits are a tradable permit scheme under UNFCCC (United Nations Framework Convention for Climate Change) which give the owner the right to emit one metric tonne of carbon-dioxide equivalent. They provide an efficient mechanism to reduce the green house gas emissions by monetizing the reduction in emissions. Rural India has a tremendous potential to earn carbon credits by setting up household based energy substitution. A study for estimating the carbon credit potential of biogas plant at Goushala, Durgapura, Jaipur is carried out. The Goushala has 250 cows, from which 750 kg (dry weight) of dung is obtained daily. Dung is converted into biogas through three floating digester biogas plants of 85 m3, 60 m3 and 25 m3 capacity. The cows produce over 273.75 tons of dung annually and if this dung is disposed of in lagoons or stored outdoors to decompose, such disposal methods emit methane and nitrous oxide, two important Green House Gases (GHG) with 21 and 310 times Global Warming Potential (GWP) of carbon dioxide, respectively. In total, green house gas emissions from the Goushala amount to 594 t CO 2 equivalents per year and with the current price of US $10 t-1 CO2 equivalent, carbon credit of US $5940 per year. This study is undertaken to calculate global warming mitigation potential and earning of carbon credits from the Goushala biogas plant, Jaipur.

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