An Analysis on Carbon Credits in Indian Perspective

Abstract

The rising cost of fossil fuels is a major concern. It not only means these resources are becoming scarcer but also highlights the damage they cause to our environment, especially through increased greenhouse gas emissions. As a result, there's a growing interest in finding and developing alternative energy sources that are clean and renewable. Renewable energy is now being viewed as a preferable option compared to nuclear power, which poses risks of significant disasters. Carbon dioxide, a major greenhouse gas, traps heat that would otherwise escape into space, leading to worldwide heating. There is a worldwide push to reduce emissions of carbon, with one of key strategies being the use of Carbon Credits. This concept, derived from the Kyoto Protocol, aims to regulate greenhouse gas emissions by allowing the trading of carbon credits among countries and governments. This paper will explore carbon credits as an alternative approach to reducing emissions of carbon.