Carbon Trading Current Schemes and Future Developments

Introduction

As the World seeks to enhance global greenhouse gas (GHG) mitigation efforts, countries are exploring innovative approaches to scale-up emissions reductions and foster private sector investment in mitigation technologies. Economic instruments, such as emissions trading schemes and carbon taxes, can help achieve domestic emission reduction goals and targets cost-effectively.  Climate change is now established as a significant problem for governments and the international community to address. This training course’s primary objective is devoted to carbon markets – market-based solutions designed to address the problem. The Carbon trading training course highlights the current schemes and future developments. We will evaluate how these  schemes and future development will impact energy industries.

The gradual heating of Earth's surface, oceans, and the atmosphere are caused by human activity, primarily fossil fuel burning, deforestation, and farming livestock that pumps carbon dioxide (CO2), methane, and other greenhouse gases. Global warming is an aspect of climate change, referring to the long-term rise of the planet's temperatures. It is caused by increased concentrations of greenhouse gases in the atmosphere. Each country has a cap on the amount of carbon they are allowed to release. Carbon emissions trading then allows countries with higher carbon emissions to purchase the right to release more carbon dioxide into the atmosphere from countries with lower carbon emissions. Carbon trading is the process of buying and selling permits and credits to emit carbon dioxide. It has been a central pillar of global efforts to slow climate change. Carbon trading is a market-based system aimed at reducing greenhouse gases that contribute to global warming, particularly carbon dioxide emitted by burning fossil fuels.