The concept of carbon credit originated from which one of the following?
- Earth Summit, Rio de Janeiro
- Kyoto Protocol
- Montreal Protocol
- G-8 Summit, Heiligendamm
Explanation
Option (b) is correct
- Globally, the concept of carbon credits and carbon trading originated from the Kyoto Protocol of UNFCCC in 1997. A carbon credit (also known as a carbon offset) is a tradable certificate or permit representing the reduction or removal of one tonne of carbon dioxide or its equivalent greenhouse gases from the atmosphere. Carbon credits are part of global efforts to mitigate the rising concentration of greenhouse gases (GHGs) and combat climate change. These credits can be generated through activities such as afforestation, renewable energy projects, carbon dioxide sequestration, methane capture, and through trading mechanisms in carbon markets or exchanges.
