Carbon Credit Market To Upscale Amidst Technological Advancements

Cmiblogging16 Nov, 2021Technology

A carbon credit is a marketable permit or certificate that grants the holder the ability to release one ton of carbon dioxide or the equivalent of another greenhouse gas ? it is effectively an offset for those who create such gases. The primary purpose of creating carbon credits is to minimize carbon dioxide and other greenhouse gas emissions from industrial activity to mitigate the consequences of global warming. A carbon credit is a strategy for reducing greenhouse gas emissions. Caps on greenhouse gas emissions are imposed by governments or regulatory bodies. Immediate emission reductions are not economically possible for certain businesses. As a result, they can buy carbon credits to meet the emission quota. Voluntary Emissions Reduction refers to a carbon offset that is exchanged for credits in the over-the-counter or voluntary market (VER).