*Research Scholar, Department of Management, Monad University, Uttar Pradesh, India
**Research Scholar, Department of Commerce, Tripura University, Tripura, India
Online published on 7 December, 2013.
Global warming is changing the global climate much faster, affecting living organisms. Environmentalist, policymakers and general public are emphasizing on global policy for protecting natural environment. But despite such emphasis a uniform consensus is yet to be made. Emission of Carbon dioxide to a huge quantity is mainly responsible for Green House Gas (GHG) production as well as global warming. Carbon trading is the way through which global warming can be reduced to a large extent. Carbon trading is thought to be an alternative to limit the emission level of GHG, as resolved in the Kyoto protocol. The main issue of Kyoto protocol has been to control emissions of Green House Gases (GHG) from various industrial units throughout the world. The purpose of this paper is to analyze prospects of carbon trading in India as well as the related issues.
Carbon trading, GHG, global climate, global warming, Kyoto protocol
