Consider the following statements 1 Carbon Credit came into the limelight after the Kyoto Protocol 2...........

Environment and Ecology Environment- Institutional Structure

Consider the following statements.

1. Carbon Credit came into the limelight after the Kyoto Protocol.

2. Carbon Credits are a component of International attempts to mitigate the growth of Green House Gases (GHG’s) and that why can not be traded in International market.

Which of the statement(s) given above is/are correct?

1 Only

2 Only

Both 1 and 2

Neither 1 nor 2

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Explanation:

A carbon credit is a generic term for any tradable certificate or permit representing the right to emit one tonne of carbon dioxide or the mass of another greenhouse gas with a carbon dioxide equivalent (tCO2e) equivalent to one tonne of carbon dioxide.
Carbon credits and carbon markets are a component of national and international attempts to mitigate the growth in concentrations of greenhouse gases (GHGs). carbon credit is equal to one tonne of carbon dioxide, or in some markets, carbon dioxide equivalent gases. Carbon trading is an application of an emissions trading approach. Greenhouse gas emissions are capped and then markets are used to allocate the emissions among the group of regulated sources.