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The concept of carbon credit originated from which one of the following.
- a)Earth summit
- b)Kyoto Protocol
- c)Montreal Protocol
- d)G-8 Summit
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
The concept of carbon credit originated from which one of the followin...
The correct answer is Kyoto Protocol.
Key Points
- A carbon credit is a permit that allows the company that holds it to emit a certain amount of carbon dioxide or other greenhouse gases.
- One credit permits the emission of a mass equal to one ton of carbon dioxide.
- The United Nations' Intergovernmental Panel on Climate Change (IPCC) developed a carbon credit proposal to reduce worldwide carbon emissions in a 1997 agreement known as the Kyoto Protocol.
- The agreement set binding emission reduction targets for the countries that signed it.
- Another agreement, known as the Marrakesh Accords, spelled out the rules for how the system would work.
Important Points
- The UNFCCC, signed in 1992 at the United Nations Conference on Environment and Development also known as the Earth Summit, the Rio Summit, or the Rio Conference.
- The Montreal Protocol on Substances that Deplete the Ozone Layer is an international treaty designed to protect the ozone layer by phasing out the production of numerous substances that are responsible for ozone depletion.
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The concept of carbon credit originated from which one of the following.a)Earth summitb)Kyoto Protocolc)Montreal Protocold)G-8 SummitCorrect answer is option 'B'. Can you explain this answer?
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