Economics and commercial law
LOHITH (student) (85 Points)
19 May 2016
what is mean by carbon credit??
CA Prakhar Jain
(Partner at Jain M Prasad & Co)
(710 Points)
Replied 19 May 2016
From Wikipedia, the free encyclopedia
A carbon credit is a generic term for any tradable certificate or permit representing the right to emit one tonne of carbon dioxide or the mass of another greenhouse gas with a carbon dioxide equivalent (tCO2e) equivalent to one tonne of carbon dioxide.[1][2][3]
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.
Read in wikipedia and you will know in detail
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