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With reference to Carbon credit, consider the following statements:
It is a credit for greenhouse emissions reduced or removed from the atmosphere.
  • They are based on the "cap-and-trade" model.
  • One carbon credit is equal to one metric ton of carbon dioxide.
    Which of the statements given above is/are correct?
    • a)
      1 and 2 only
    • b)
      2 and 3 only
    • c)
      1 and 3 only
    • d)
      1, 2 and 3
    Correct answer is option 'D'. Can you explain this answer?
    Most Upvoted Answer
    With reference to Carbon credit, consider the following statements: ...
    Carbon Credit:

    • Carbon credit is a permit that allows a country, organization or company to emit a certain amount of greenhouse gases.

    • It is a credit for greenhouse emissions reduced or removed from the atmosphere.

    • They are based on the "cap-and-trade" model where the government sets a limit on the amount of carbon dioxide that can be emitted and companies can buy or sell credits based on their emissions.

    • One carbon credit is equal to one metric ton of carbon dioxide.

    • Carbon credits can be traded or sold in the market to companies or countries that exceed their carbon limit.

    • The concept of carbon credits is to create an economic incentive for companies to reduce their carbon emissions.

    • The revenue generated from the sale of carbon credits can be reinvested in renewable energy projects.

    • Carbon credits can also be used as a way for developed countries to help developing countries reduce their carbon emissions.

    Therefore, all the given statements are correct.
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    Community Answer
    With reference to Carbon credit, consider the following statements: ...
    • Carbon Credit: A carbon credit (also known as carbon offset) is a credit for greenhouse emissions reduced or removed from the atmosphere by an emission reduction project, which can be used by governments, industry, or private individuals to compensate for the emissions they generate elsewhere. Hence, statement 1 is correct.
    • Those that cannot easily reduce emissions can still operate, at a higher financial cost. Carbon credits are based on the "cap-and-trade" model that was used to reduce sulfur pollution in the 1990s. Hence, statement 2 is correct.
    • One carbon credit is equal to one metric ton of carbon dioxide, or in some markets, carbon dioxide equivalent gases (CO2-eq). Hence, statement 3 is correct.
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    With reference to Carbon credit, consider the following statements: It is a credit for greenhouse emissions reduced or removed from the atmosphere. They are based on the "cap-and-trade" model. One carbon credit is equal to one metric ton of carbon dioxide. Which of the statements given above is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?
    Question Description
    With reference to Carbon credit, consider the following statements: It is a credit for greenhouse emissions reduced or removed from the atmosphere. They are based on the "cap-and-trade" model. One carbon credit is equal to one metric ton of carbon dioxide. Which of the statements given above is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct 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 With reference to Carbon credit, consider the following statements: It is a credit for greenhouse emissions reduced or removed from the atmosphere. They are based on the "cap-and-trade" model. One carbon credit is equal to one metric ton of carbon dioxide. Which of the statements given above is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct 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 With reference to Carbon credit, consider the following statements: It is a credit for greenhouse emissions reduced or removed from the atmosphere. They are based on the "cap-and-trade" model. One carbon credit is equal to one metric ton of carbon dioxide. Which of the statements given above is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?.
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