Few years back, it became possible for EU based polluting companies to continue to behave environmentally more irresponsibly in the name of Carbon Credits Trading. It also became possible for less developed countries such as India and China to get some pennies in the name of Carbon Credit Trading, essentially to stay quiet while the West pollutes.
Take an example. The UN FCC establishes ‘norms’ of carbon pollution acceptance. Needless to say that most of the Western nations have a little trouble with their polluting industries. Instead of the polluting industries in the EU having to reduce their pollution, they simply achieve that of carbon reduction by paying off someone in the developing country such as India or China to reduce that much of pollution on their behalf. It is a method of credits or Carbon are sold. Each credit is equal to 1 ton of Carbon Dioxide reduction in the word.
The world is believed to have the capability to handle the handle only so much of Carbon in its stride. We humans have caused that limit to exceed in the world already ( and proudly call it as due to industrial revolution and you know where the industrial revolution actually took place). So instead of solving the pollution problem, the affluent West, decides, let me continue to pollute, and achieve my pollution reduction targets by paying off some money to stay happy!
(To be continued in several parts)
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