14 Sep International conventions and global initiatives on carbon trading
कार्बन ट्रेडिंग पर अंतर्राष्ट्रीय सम्मेलन और वैश्विक पहल Carbon is the common denominator in all polluting gases that cause global warming. Carbon dioxide is the gas most commonly thought of as a greenhouse gas. It is responsible for about half of the atmospheric heat retained by trace gasses. It is produced primarily by burning of fossils fuels and deforestation accompanied by burning and bio-degradation of biomass. It is estimated that if the CO2 increases in the atmosphere at the present rate and no positive efforts are pursued, the level of CO2 in the atmosphere would go up to 800-1000 ppm by the end of current century. Which may create havoc for all living creatures on earth. The Intergovernmental Panel on Climate Change (IPCC) have predicted that unless emissions of greenhouse gases decrease there will be a temperature increase of between 1.4oC and 5.8oC by 2100. Carbon trading The idea behind carbon trading is quite similar to the trading of securities or commodities in a marketplace. Carbon would be given an economic value, allowing people, companies or nations to trade it. If a nation bought carbon, it would be buying the rights to burn it, and a nation selling carbon would be giving up its rights to burn it. A market would be created to facilitate the buying...