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Regarding "carbon credits", which one of the following statements is not correct?
  • a)
    The carbon credit system was ratified in conjunction with the Kyoto Protocol
  • b)
    Carbon credits are awarded to countries or groups that have reduced greenhouse gases below their emission quota 
  • c)
    The goal of the carbon credit system is to limit the increase of carbon dioxide emission
  • d)
    Carbon credits are traded at a price fixed from time to time by the United Nations Environment Programm
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Regarding "carbon credits", which one of the following state...
Explanation: Carbon credits and carbon markets are a component of national and international attempts to mitigate the growth in concentrations of greenhouse gases (GHGs). One carbon credit is equal to one tonne of carbon dioxide, or in some markets, carbon dioxide equivalent gases. Carbon trading is an application of an emissions trading approach. Greenhouse gas emissions are capped and then markets are used to allocate the emissions among the group of regulated sources. The goal is to allow market mechanisms to drive industrial and commercial processes in the direction of low emissions or less carbon intensive approaches than those used when there is no cost to emitting carbon dioxide and other GHGs into the atmosphere. Hence market mechanisms determine the cost of each carbon credit and it is not fixed by UNEP. Therefore option (d) is the incorrect one.
Educational Objective: Understand various terminologies that are in news.
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Regarding "carbon credits", which one of the following state...
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Regarding "carbon credits", which one of the following statements is not correct?a)The carbon credit system was ratified in conjunction with the Kyoto Protocolb)Carbon credits are awarded to countries or groups that have reduced greenhouse gases below their emission quotac)The goal of the carbon credit system is to limit the increase of carbon dioxide emissiond)Carbon credits are traded at a price fixed from time to time by the United Nations Environment ProgrammCorrect answer is option 'D'. Can you explain this answer?
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Regarding "carbon credits", which one of the following statements is not correct?a)The carbon credit system was ratified in conjunction with the Kyoto Protocolb)Carbon credits are awarded to countries or groups that have reduced greenhouse gases below their emission quotac)The goal of the carbon credit system is to limit the increase of carbon dioxide emissiond)Carbon credits are traded at a price fixed from time to time by the United Nations Environment ProgrammCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Regarding "carbon credits", which one of the following statements is not correct?a)The carbon credit system was ratified in conjunction with the Kyoto Protocolb)Carbon credits are awarded to countries or groups that have reduced greenhouse gases below their emission quotac)The goal of the carbon credit system is to limit the increase of carbon dioxide emissiond)Carbon credits are traded at a price fixed from time to time by the United Nations Environment ProgrammCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Regarding "carbon credits", which one of the following statements is not correct?a)The carbon credit system was ratified in conjunction with the Kyoto Protocolb)Carbon credits are awarded to countries or groups that have reduced greenhouse gases below their emission quotac)The goal of the carbon credit system is to limit the increase of carbon dioxide emissiond)Carbon credits are traded at a price fixed from time to time by the United Nations Environment ProgrammCorrect answer is option 'D'. Can you explain this answer?.
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