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INTRODUCTION
1. DEFINITION OF CARBON CREDIT:
A permit that allows the holder to emit one ton of carbon
dioxide. Credits are awarded to countries or groups that
have reduced their green houses gases below their messing
quota. So carbon credit is generic term for any tradable
certificate or permit representing the right to emit one ton
of carbon dioxide or the mass of another greenhouse gas
with CO2 equivalent to one tone of carbon dioxide. The
investopediainc investment dictionary defiance a carbon
credit as a “permit that allows that holders to emit one ton
of carbon dioxide” which “can be traded in the international
market at their current market price by permitting
allowances to be bought and sold. An operator can seek out
the most cost effective way of reducing its emissions, either
by investing in ‘caner’ machinery and practices or by
purchasing emission from another operator who already has
excess ‘capacity’.
2. HISTORY OF CARBON CREDIT:-
Carbon is an element stored in fossil such as coal and oil. When these
fuels are burned, carbon dioxide is released and acts as what we term
a 'green house gas'. Similarly oxides of carbon and Nitrogen which are
released on account of incomplete combustion also are greenhouse
gases, Methane or Natural gas liberated is also a green-house gas.
These green house gases from a blanket over the earth surface thus
trapping and preventing the heat from escaping the earth's surface,
thus resulting in increasing the temperature of the Earth, a process
termed as Global warming. The effect of Global warming are well
known to humans, including I'll effects on all living species of plants and
animals and giving rise to the threat of melting of ice bergs in the Sea,
which can raise the sea levels in dangerous proportions resulting in
flooding &led to climate change. Considering the global impacts of
climate change, the carbon came about in response to the Kyoto
protocol. Signed in Kyoto, Japan, by some more than 70 countries in
December 1997, the Kyoto protocol calls for around 38 industrialized
countries to reduce their green house gas emissions between the year
2008-2012 to levels that are 5.29 than those of 1990. Carbon is giving
an economic value, allowing
WORLDS HISTORY OF CARBON CREDIT
Kyoto Protocol, the issue of climate change and global
warming became the topic of International concern in
the1980s and since then has been subject to debate and
several agreements on scientific issues, voluntary actions,
legally binding greenhouse gas emission targets, rules for
implementation and mechanisms. At the 1997 Climate
Change Convention in Kyoto, the primary topic of
discussion was the reduction of greenhouse gases (GHG),
which are believed to be the principal cause of global
warming. Kyoto Protocol is a voluntary treaty signed by141
countries, including the European Union, Japan and Canada
for reducing GHG emission by 5.2% below 1990levels by
2012. However US who accounts for one-third of the total
GHG emission, is yet to
Pie chart of annual carbon
dioxide emission
China
United State
India
Russia
Japan
Germany
South Korea
Canada
Indonesia
Saudi Arabia
Brazil
United Kingdom
Mexico
Iran
OBJECTIVE
CONCEPTUAL
FRAMEWORK
Indian CER in various sectors
Forestry 10 10411540
MSW 35 11526169
500
400
200
100
0
2006 2007 2008 2009
•WHST IS CARBON CREDIT MARKET?
Climate change caused by greenhouse gas (GHG)
emissions is a serious global problem. National and
international attempts to mitigate the growth in
atmospheric concentration of GHGs have resulted
in the formation of a carbon market. Currently the
carbon market is comprised of a compliance
market, made up of emitters who are obligated to
reduce their emissions and a voluntary mmarket, in
which organisation voluntarily reduce their carbon
emissions. Most economists argue that an efficient,
international carbon market will reduce GHG
emissions at the lowest cost, allowing polluters that
are unable to abate their own emissions cheaply to
invest in projects globally that can.
•THE COMPLIANCE CARBON MARKET
In 1992 the United Nations Framework Convention
on climate change ( UNFCCC) was created to raise
awareness and build knowledge to help mitigate
climate change. In 1997, more than 170 countries
adopted the Kyoto Protocol to the convention. This
set legally binding targets for 37 industrialised
countries to limit or reduce overall GHG emissions
by at least 5% below 1990 levels during the period
2008-2012.
INDIAN MARKET OF CARBON TRADING
Carbon credits have become the key element of national and
international counter measures to neutralize the growth of such green
house gases. The reduction in emission is supported by offering
monetary value in such cases. Each CER is equivalent to one tons of
carbon dioxide reduction. Such a credit can be sold in the International
market at the prevailing market price. This has become an entirely new
industry with great potential and opportunities for the companies
(including Indian ones ) and individual investors alike. India could
emerge as one of the largest beneficiaries accounting for more than 25%
of the total global carbon trade based on World Bank Report.
Indian company has started generation carbon credits and carbon
trending in India has gained a lot of momentum in recent years.
India has a huge potential of gaining from Carbon trading market.
500
400
300
Global CER Transaction (mCERs)
Indian CER Transaction
200
100
0
2006
2007
2008
2009
Co-relation between global CER transaction and Indian
CER transaction.
Table-3
year Estimated revenue from the sale Estimated revenue from the
of CERs at primary market sale of CERS AT Secondary
prices (USD million) market prices (USD million)
2007 2 9
1000
800
Estimated revenue from the sale of CERs at
primary market prices (USD million)
Estimated revenue from the sale of CERS
600 AT Secondary market prices (USD million)
400
200
0
2007 2008 2009 2010 2011
Table-5
year xi yi Xi2 Yi2 xiyi
2007 2 9 4 81 18
2006 1200 56
2007 1300 33
2008 1400 16
2009 1700 04
Indian carbon emission and transaction
1800
1600
1400
1200
Transaction CER
1000
Carbon emission
800
600
400
200
0
2006 2007 2008 2009
Coelation between India Carbon Emission and CER transaction
6% 6%
1%
7.00%
China
India
Rest of Asia
Africa
ECA
81%
CHAPTER-4
Conclusions
&
Recommendations
CONCLUSIONS
This study is crucial for every human being living in the earth to lead peaceful life
ahead in their respective country. This study has narrated the various problems that
affect due to the emission and also suggested the different measure to overcome the
problems with the help of numerous emission control programmers. This is possible
through improved land management and increased productivity of agricultural
cropland, forest, rangeland, wetland and urban ecosystem to offset the. Large amount
of greenhouse gases. In short it is important to implement the proper management
practices and technologies to mitigate carbon dioxide co2, nitvert oxide N2o and
methane CH4. It is also very important for the developing countries and large
populated countries to conduct appropriate national, regional and local incentives to
soil carbon within economic constraints to avail healthily environment. (
http://www.saarj.com data 4th jan, 2014). Through critics argue that carbon markets
create disorder and leave much room for unverifiable manipulation and do little to
solve pollution problems overall, as the groups that do not pollute sell their
conservation to the highest bidder. But carbon treading is an administrative approach
used mainly to control pollution by providing economic incentives for achieving
reduction in emissions. Trading in these carbon credits is hyped as market solution
which is a feel good factor. They provide ways to reduce greenhouse gas emissions by
giving them monetary values. National policies should help in shaping this new ad
vibrant maret, which is economically efficient
RECOMMENDATIONS & LIMITATIONS
The project of carbon prepare mainly based above India only.
I prepare this project in two-three months only. In future if I
get the scope and time, I will study more. My future studies
may consider focusing on other countries of the world that
have different climatic characteristics. Future research should
also focus on determining whether there are any differences
between develop and developing country on carbon credit.
Future studies should also look into establishing the remaining
greenhouse gas consumptions by the typical residential
structure.
BIBLIOGRAPHY
Urals:
•www.google.com(date-11/12/2015 at 11am.)
•www.wikepedia.org (date-15/12/2015a t 8pm.)
•www.istrj.net/UploadedData/2054.pdf(date-07/01/2016 at 1pm)
•www.tec.co.in/cdm_carbon_trading.pdf date-9/1/2016 at 7pm.)
•www.cccindia.co/corecentre/Database/doce/DocFiles/global_kyoto.pdf
(date-15/02/2016 at 12pm.)
•www.ijsret.org/pdf/carbon_trading.pdf (date-27/02/2016 at 9pm.)
Books & Journal:-
1.Benjamin K sovacool (assistant professor,Lee Kuan Yew School of
Public Policy ,National University of Singapore)