Generation of Carbon Credits

The following activities can generate carbon off sets in the atmosphere:

  • Renewable energy such as wind farms, solar energy, geothermal energy and biomass energy.
  • Energy efficiency projects (methane capture from landfills) Carbon sequestration projects (such as afforestation) that absorbs carbon dioxide from the atmosphere.
  • These credits need to be authentic, scientifically based and verification is essential.

Carbon Footprint

It is a mark that we leave on our planet as a result of our daily activities and usage or emission of carbon dioxide. In other words, it is a measure of impact that human activities have on the environment and this is calculated in proportion to the greenhouse gases produced and measured in units carbon dioxide. As regulatory frameworks on business around permissible carbon emission limits and carbon trading are getting strengthened around the globe, business are taking proactive initiatives to record their carbon emissions and devise ways to reduce the same.

Role of Indian Industries

There is a visible �shift� within in the Indian industry to mitigate and adapt to climate change impacts, despite lack of any regulatory requirements for greenhouse gases abatement. The positive response of Indian business to Carbon Disclosure Project (CDP) over the last few years is an indication of this change and their willingness to address climatic change.

Carbon Sequestration

Carbon sequestration is a method for managing the amount of carbon dioxide (CO2) that is released into the atmosphere by burning carbon-based fuels, predominantly carbon rich petroleum fuels. It is a relatively new idea brought about the concern that high concentrations of atmospheric CO2 contribute to global warming. In principle, carbon sequestration refers to storage of carbon that would otherwise be released into the atmosphere.

Ecology Footprint

It is a measures of human demands on the Earth�s ecosystems. It represents the amount of biologically productive land and sea area necessary to supply the resources a human population consumer, and to assimilate associate waste. The concept of ecological footprint was given by willian Rees and Mathis Wackernagel.

Carbon Sink

A carbon sink is anything that absorbs more carbon that it releases, whilst a carbon source is anything that releases more carbon than in absorb. Carbon is present in every hydrocarbon fuel (coal, petroleum and natural gas) and is released as carbon dioxide (CO2) when they are burnt. In contrast, non-combustion energy sources – wind, sunlight, hydropower and nuclear -do not convert hydrocarbons to CO2. Greenhouse gas CO2 is a heat trapping gas. Scientists have pointed to the potential effects on the climate system of releasing greenhouse gases into the atmosphere. Since greenhouse gases emission caused by the combustion of fossil fuels are closely related to the carbon content of the respective fuels, a tax on these emissions can be levied by taxing the carbon content of fossil fuels at any point in the product cycle of the fuel.

Carbon Taxing

The European Union (EU) announced on Monday, November the 12 to charge a carbon tax on passengers lying to and from its 27 member countries. s tax was introduced with the set objective to create a positive atmosphere around the countries of European Union and to reduce the greenhouse gases.

Emission Trading

Under an emission trading system, the quantity of emissions is emitted (often called a cap) and the right to emit becomes a tradable commodity. The cap (say 10,000 tons of carb on) is divided into transferable units (10,000 permits of 1 ton of carbon each). Permits are often referred as Greenhouse Gases Units, �quotas� or �allowances.� Once permits are allocated (by auction, sale or free allocation) to the actors participating in the system, they are then tradable. This enables emissions reductions to take place where least costly.

Ecomark

The Ministry of Environment and Forests, Government of India, has instituted a scheme, called �Ecomark� on labelling of Environment Friendly Products. The scheme is operating on a national basis and provides accreditation and labelling for household and other consumer products which meet certain environmental criteria along with quality requirements of the Indian Standards for the product.

Any product which is made, used or disposed of in a way that significantly reduces the harm it would otherwise cause to the environment, are categorized as environment friendly product. The scheme is voluntary and invites participation from common citizens and concerned industrial sectors in the larger interest of environment.

Environmental Refuge

An environmental refuge is a person who can no longer gain a secure livelihood in his homeland because of drought, soil erosion, desertification, deforestation and other environmental problems together with associated problems of population pressure and profound poverty. According to one estimate in 2012 these environmental refugees totalled at least 75 million.

Global Carbon Project

The Global Carbon Project was formed in 2001, top assist the international science community to establish a common, mutually agreed knowledge base supporting policy debate and action to slow the rate of increase of greenhouse gases in the atmosphere. It recognizes the scientific challenge and critical importance of the carbon cycle for Earth�s sustainability.

The main objectives of the Global Carbon Projects are as under:

  • Patterns and Variability: To examine the current geographical and temporal distribution of the major pools and fluxes in the global carbon cycle.
  • Processes and Interactions: To ascertain the dynamics of the carbon-climate-human system into the future. It also aims to manage the carbon cycle and to reduce the adverse effect of this greenhouse gas.

Written by princy

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