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Green house gases and Carbon Credit

Many chemical compounds found in the Earths atmosphere act as greenhouse gases. These

gases allow sunlight to enter the atmosphere freely.When sunlight strikes the Earths surface,

some of it is reflected back towards space as infrared radiation (heat). Greenhouse gases absorb

this infrared radiation and trap the heat in the atmosphere. Over time, the amount of energy

sent from the sun to the Earths surface should be about the same as the amount of energy

radiated back into space, leaving the temperature of the Earths surface roughly constant.

Many gases exhibit these greenhouse properties. Some of them occur in nature (water vapor,

carbon dioxide, methane, and nitrous oxide), while others are exclusively human-made (like

gases used for aerosols and CFCs).

chlorofluorocarbon (CFC) is an organic compound that contains carbon, chlorine,

and fluorine, produced as a volatile derivative of methane and ethane. A common subclass are

the hydrochlorofluorocarbons (HCFCs), which contain hydrogen, as well. They are also

commonly known by the DuPont trade name Freon. The most common representative

isdichlorodifluoromethane ( Freons). Many CFCs have been widely used as refrigerants,

propellants ( aerosols ), and solvents.In an attempt to safeguard the interest and making the

industries/countries responsible for more green house gases(GHGs) or Carbon dioxide

emission the carbon credit concept is introduced.

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.

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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 metric 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.

The goal is to allow market mechanisms to drive industrial and commercial processes in the

direction of low emissions or less carbon intensive approaches than those used when there is no

cost to emitting carbon dioxide and other GHGs into the atmosphere. Since GHG mitigation

projects generate credits, this approach can be used to finance carbon reduction

schemes between trading partners and around the world.