Will Carbon Market Change the Fate of This Planet
8 Pages Posted: 14 Jul 2020
Date Written: June 21, 2012
Global Climate Change(GCCs) represents one of the greatest challlenges for mankind . In addition to being a global problem as the name itself indicates, they involve several sectors of society, requires awareness on the importance of the issue, and demand changes in many consumption habits and behavior.The growing emissions of Carbon Dioxide (CO2) and other gases such as methane (CH4) and nitrous oxide (NO2) in the atmosphere has caised serious problems such as the greenhouse effect. Owing to the quantity of CO2 issued, it is the gases that contributes the most to global warming . Its emissions represent approximately 55% of the total world emission of greenhouse gases. The time of permanence in the atmosphere ifs from 50 to 200 years.This means that the emission of today will have long-term effects, and may result in impacts on the climate regime throughout many centuries. Carbon markets simply don't address the underlying and root causes of climate change, which is an over-consumption of finite fossil fuels. We are addicted to oil, gas, coal and a whole range of other fossil fuels, which, when burned for heating, electricity generation or other usages, release greenhouse gases. It is now time to make up for the lost decade since Kyoto and start to deal with our underlying reliance on fossil fuels. Offsetting should never be the first step in any carbon-neutral strategy. Instead, companies should seek to reduce their impact on the climate by wasting less energy and by examining their industrial processes to see if they can be made more efficient or less carbon-intensive. An energy audit assists with finding efficiency savings. Companies should only offset those emissions they cannot eliminate.
This paper focuses on the carbon credit, carbon offsets.The trading of carbon credit, valuation and generation of carbon credit, arguments in favour and against of carbon credit.
Keywords: carbon credit, emission, trading, valuation, generation, carbon dioxide, carbon offset
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