A carbon market allows countries, or industries, to earn carbon credits for emission reductions they make in excess of what is required of them. These credits can be traded to the highest bidder in exchange for money.
The buyers of carbon credits can show the emission reductions as their own and use them to meet their own emission reduction targets. A carbon market already existed under the 1997 Kyoto Protocol but several countries walked out of the Kyoto Protocol and thus the demand for carbon credits had waned. As a result, developing countries like India, China and Brazil had accumulated huge amounts of carbon credits. These credits are now in danger of getting redundant.
JPSC Notes brings Prelims and Mains programs for JPSC Prelims and JPSC Mains Exam preparation. Various Programs initiated by JPSC Notes are as follows:-
- JPSC Mains Tests and Notes Program
- JPSC Prelims Exam 2024- Test Series and Notes Program
- JPSC Prelims and Mains Tests Series and Notes Program
- JPSC Detailed Complete Prelims Notes