Climate Change and Environmental Sustainability
  • Year: 2022
  • Volume: 10
  • Issue: 2

Understanding carbon trading: Accomplishments and prospects in india and other countries

  • Author:
  • S Rakesh1,*, J Kamalakar2, Bair Raju2, Narender Jannu3, Vaibhav Bhagwan Pandit4, Rajesh Kunta5, Sumana Balo6, Kirtiranjan Baral7, Manjanagouda S. Sannagoudar8, Deepranjan Sarkar9
  • Total Page Count: 10
  • Page Number: 113 to 122

1Department of Soil Science and Agricultural Chemistry, Uttar Banga Krishi Vishwavidyalaya, Cooch Behar-736165, West Bengal, India

2Agricultural College, Professor Jayashankar Telangana State Agricultural University, Warangal-506006, Telangana, India

3Department of Agronomy, Agriculture PolytechnicJammikunta, Professor Jayashankar Telangana State Agriculture University, Hyderabad, 505122, Telangana, India

4School of Agriculture, SR University, Warangal-506371, Telangana, India

5Department of Crop Physiology, Agricultural College, Sircilla, Professor Jayashankar Telangana State Agricultural University, Hyderabad, 505301, Telangana, India

6Department of Soil Science and Agricultural Chemistry, School of Agriculture, GIET University, Gunupur, Rayagada-765022, Odisha, India

7ICAR-National Academy of Agricultural Research Management, Rajendranagar, Hyderabad-500030, Telangana, India

8ICAR-Indian Institute of Seed Science, Regional Station, Bengaluru-560065, Karnataka, India

9Department of Agriculture, Integral Institute of Agricultural Science and Technology, Integral University, Lucknow-226026, Uttar Pradesh, India

*Corresponding author email id: rakisavan.940@gmail.com

Abstract

Carbon credits and trade have come to light as a viable way to reduce greenhouse gas (GHG) emissions and prevent climate change in the face of the escalating climate crisis. A market-based strategy for lowering carbon dioxide (CO2) and other GHG emissions is the usage of carbon credits. The purpose of carbon credits is to give the reduction, avoidance, or elimination of GHG emissions a monetary value. One metric tonne of decreased or offset CO2 (or its equivalent in other GHGs) is equal to one carbon credit. By encouraging emission reductions and supporting sustainable practices, carbon credit and trading systems are essential in combating climate change. Despite certain difficulties, the overall effect on the economy and environment is favourable. Carbon credits have the potential to be a useful instrument in our group efforts to create a greener and more sustainable future as we continue to fight climate change. In this overview, the current status of carbon credits and trading in India is explored, along with the regulatory environment, market trends, and effects on the environment and economy of the nation and other countries.

Keywords

Carbon dioxide, Greenhouse effect, Carbon markets, CDM investments, Environmental protection