Saturday, November 27

Paying for more pollution.. What defines international carbon trade?

The current climate summit in Glasgow (Northern Britain) highlights the concept of what is known as the carbon market or international carbon trade. What does it mean? Does this system contribute to reducing the repercussions of global warming or global warming?

The “carbon market” or “international carbon trade” is a global environmental trading sector primarily concerned with global warming or global warming.

In short, carbon trading means that the major industrialized countries that have large amounts of emissions buy the right to emit more of the countries that have fewer emissions.

Hence the principle on which this trade is based is to pay for more pollution.

It is a principle endorsed by the international community during the Earth Summit organized by the United Nations in the Brazilian city of Rio de Janeiro in 1992.

Carbon trading quickly became a global market, in which specific prices are set per ton of emissions released into the atmosphere according to supply and demand.

The volume of transactions in this market has reached a hundred billion dollars annually, and the World Bank expects that this trade will outperform the volume of the global oil market.

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Reference-www.aljazeera.net

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