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Abdul Haq
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The burning of fossil fuels is a major source of greenhouse gas emissions, especially for power, cement, steel, textile, fertilizer and many other industries which rely on fossil fuels (coal, electricity derived from coal, natural gas and oil).
The major greenhouse gases emitted by these industries are carbon dioxide, methane, nitrous oxide, hydrofluorocarbons (HFCs), etc., all of which increase the atmosphere's ability to trap infrared energy and thus affect the climate.
The concept of carbon credits came into existence as a result of increasing awareness of the need for controlling emissions.
The mechanism was formalized in the Kyoto Protocol, an international agreement between more than 170 countries.
The Kyoto Protocol to the United Nations Framework Convention on Climate Change was adopted in Kyoto, Japan, in December 1997 and entered into force on 16 February 2005.
Objective: stabilize atmospheric concentrations of GHGs at a level that will prevent dangerous interference with the climate system.
Under the Kyoto Protocol, the 'caps' or quotas for Greenhouse gases for the developed Annex 1 countries are known as Assigned Amounts
Annex I Parties have a binding commitment to limit or reduce GHG emissions. Eg USA has to reduce its emissions by 7% and Canada by 6% etc.
The major greenhouse gases emitted by these industries are carbon dioxide, methane, nitrous oxide, hydrofluorocarbons (HFCs), etc., all of which increase the atmosphere's ability to trap infrared energy and thus affect the climate.
The concept of carbon credits came into existence as a result of increasing awareness of the need for controlling emissions.
The mechanism was formalized in the Kyoto Protocol, an international agreement between more than 170 countries.
The Kyoto Protocol to the United Nations Framework Convention on Climate Change was adopted in Kyoto, Japan, in December 1997 and entered into force on 16 February 2005.
Objective: stabilize atmospheric concentrations of GHGs at a level that will prevent dangerous interference with the climate system.
Under the Kyoto Protocol, the 'caps' or quotas for Greenhouse gases for the developed Annex 1 countries are known as Assigned Amounts
Annex I Parties have a binding commitment to limit or reduce GHG emissions. Eg USA has to reduce its emissions by 7% and Canada by 6% etc.
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