ACCENT JOURNAL OF ECONOMICS ECOLOGY & ENGINEERING
Peer Reviewed and Refereed Journal, ISSN NO. 2456-1037Available Online: www.ajeee.co.in/index.php/AJEEE
Vol. 06, Issue 06, June 2021 IMPACT FACTOR: 7.98 (INTERNATIONAL JOURNAL) 55 A REVIEW PAPER ON SUSTAINABLE DEVELOPMENT THROUGH CARBON CREDIT TRADING IS NEW HOPE FOR DISCOVERING SCIENTIFIC ENVIRONMENTAL WORLD
Rushina Natu
(Department of Chemistry), P.M.B. Gujrati Science College
Abstract - Carbon credit trading is giving new way to deal with carbon emission green house gases can be reduced with the help of trading of carbon credit. India is 2nd largest country to enhance the development of carbon trading & India is going to have biggest market of trading & off course reducing GHG and maintaining the environmental & adding their target as decided by Italy agreement.
Keywords: Carbon credit, GHG, Carbon emission.
1 INTRODUCTION
Kyoto protocol has given the concept of carbon trading in 2015. Here only 34 countries decided to take part according to protocol. But USA was not the member.
Then came Italy agreement in which 64 countries have decided to reduce carbon emission by 1.5% to save the environment
& lives on mother earth.
With the chemical sciences now economy is also involved & thus credit selling & buying is a new hope for environ mentalists & economists. The problem of GHG emission was adhered with the financial incentives so resulting into trading which created interest in the world.
The clean development mechanism was one of the biggest way to reduce emission & even limit the emissions of green house gases. Kyoto protocol designed the emission reduction projects in developing countries.
2 INDIAN CARBON CREDIT TRADING One carbon credit is equal to the permit of emission of mass of one ton of CO2 gases or other green house gases.
This carbon credits are equally helping to fight the climate change as it gives limitation to emitt GHG CO2 gases.
India is going to be one of the largest trader through clean development.
Mechanism in the world it is one of the fastest growing subject & market. Nearly 1000 projects of CDM is going to take shape in next two years and investments of 700 crores is going to be the done.
In Asia India is the first country to adopt exchange of carbon credits in global market.
Note: The Delhi government has decided to take "Carbon credits" as commodities in the market so as there sale (buying &
selling) is a value added project.
The trading of carbon credit is done on NCDEX and a clear policy is to be passed by the parliament India till 2030 is going to invest in renewable energy which is 560 GW (giga watts) by 2030.
Years GW (Gigawats)
2015 175
2020 230 (Proposed) 2025 450 (proposed) 2030 560 (proposed) 3 CONCLUSIONS
India is progressing in the world of chemistry & economics as well. Without chemistry we cannot think about our upgradation and India is performing its best to save environment and reduce CO2
& GHG emissions agreeing with Italy agreement.
REFERENCES
1. http://cdmindia.nic.in/cdm_india.htm
2. The Kyoto Protocol,
http://unfccc.int/kyotoj,rotocol/items/2830.
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3. hup://carbonfinance.org/Router.cfm?Page=F AQ&ItemID=24677#2
4. http://blogs.expressindia.com/showblogdeta ils.php?contentid=226814
5. http://economictimes.indiatimes.com/News/N ews-By-Industry/India-set-to-rake-in100- billion-through-carbon-
trading/articleshow/4465669.cms
ACCENT JOURNAL OF ECONOMICS ECOLOGY & ENGINEERING
Peer Reviewed and Refereed Journal, ISSN NO. 2456-1037Available Online: www.ajeee.co.in/index.php/AJEEE
Vol. 06, Issue 06, June 2021 IMPACT FACTOR: 7.98 (INTERNATIONAL JOURNAL) 56 6. http :// econ omi ctim es. indi ati mes. com /new
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