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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 Programme
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Regarding “carbon credits”, which one of the following statements is ...
  • Emissions trading, as set out in Article 17 of the Kyoto Protocol, allows countries that have carbon emission units to spare (i.e., the difference between total emission cap and emission done) – emissions permitted to them, but not “used” – to sell this excess capacity to countries that are over their targets. If a country emits less than its target amount of hydrocarbons, it can sell its surplus credits to countries that does not achieve their Kyoto level goals, through an Emission Reduction Purchase Agreement (ERPA).
  • Certified Emission Reductions (CERs) are a type of emission units (or carbon credits) issued by the Executive Board of Clean Development Mechanism (CDM) for emission reductions achieved by CDM projects. It is verified by a DOE (Designated Operational Entity) under the rules of the Kyoto Protocol. The Sustainable practices and application of eco friendly technologies produce carbon-credits that could be traded. Thus, it leads to reduction in GHGs emission as it creates a competitive and remunerative market. The United Nations’ Intergovernmental Panel on Climate Change (IPCC) developed the carbon credit regime as a “market-oriented mechanism”.
Therefore, option (d) is the correct 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 ProgrammeCorrect 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 ProgrammeCorrect 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 ProgrammeCorrect 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 ProgrammeCorrect answer is option 'D'. Can you explain this answer?.
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