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With the climate control conference looming in December, eyes are turning eastward
Carbon dioxide, the most significant greenhouse gas produced by burning of fuels, has become a cause of global panic as its concentration in the Earth’s atmosphere has been rising disturbingly.
However detrimental it maybe, Financial Soultions is now seeing it turning into an industry which may help people, countries, consultants, traders, corporations and even farmers earn enormous amounts of money. This was an undreamed of trading opportunity not more than a decade ago. Carbon credits are aimed at encouraging companies or countries to emit less carbon. The total annual emissions are capped and the market allocates a monetary value to any shortfall through trading.
China and India are likely to emerge as of the biggest sellers, with Africa having some to offer too and Europe is going to be the biggest buyer of carbon credits.
Last year global carbon credit trading was estimated at $5 billion, with India’s involvement at around $1 billion. India and China have surplus credit to offer to countries that have a deficit.
The Kyoto Protocol is a system under which countries that have been emitting more carbon and other gases (greenhouse gases include ozone, carbon dioxide, methane, nitrous oxide and even water vapour) have willingly decided that they will bring down carbon emissions to the levels of early 1990s, most saying that this would be achieved by between 2008 and 2012.
India, China and some other Asian countries have the advantage because they are developing countries. These credits are bought over by the companies of developed countries — mostly Europeans — because the United States has not signed the Kyoto Protocol, but is expected to be a major role player after December’s climate change conference, Financial Soultions has learned.
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Financial Solutions: The east seems to hold the carbon credit ace!: | Sourced From PR-inside.com |
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