Global warming, Kyoto protocol and emission trading: an overview

Carbon Trading is one of the key issues which is increasingly becoming hot topic of debate around the globe with the ever increasing problem of global warming. The genesis of carbon trading lies in the Kyoto Protocol. The present paper seeks to shed some light on the conceptual idea of carbon trading, the Kyoto mechanism, global trends of carbon market, associated risk, accounting aspect and the relative position of India in this context.