Research Journal of Recent Sciences ________________________________________________ ISSN 2277 - 2502
Vol. 1(ISC-2011), 388-397 (2012)
Res.J.Recent.Sci.

Review Paper

Carbon Credits – A Step to Sustainable Future of the World
Ravuru Narasimha Reddy and Y. V. N. S. Suvikram
Chemical Engineering Department, Institute of Technology, Nirma University, Ahmedabad, Gujarat, INDIA

Available online at: www.isca.in
(Received 16th September 2011, revised 11th January 2012, accepted 25th January 2012)

Abstract
Clean Development Mechanism (CDM), a flexibility mechanism of Kyoto Protocol, discusses trading and transferring of
emission allowances between developing and developed nations. The shift to renewable energy options and low carbon
technologies, in response to the concerns over energy security and climate change, is proceeding more slowly than many
would like. CDM, a project-based system, aims to accomplish the overarching goals of the Protocol. It aims to encourage
sustainable development in developing nations and intends to reduce the cost of compliance with the Protocol for developed
nations. CDM Projects are designed for reducing greenhouse gases and increasing green cover on earth. It involves projects
like energy efficiency, transport, methane recovery, industrial process changes, cogeneration, agricultural sector etc. CDM
also known as “Carbon Trading” or “Carbon Credits” is the way of reducing carbon emissions and gain ‘Certified
Emission Reductions’ (CERs) for a developing country in return to the technology, funds etc. provided by a developed
country. In this process World Bank (WB) acts as a referee and provides carbon credits to developed countries. Recently
held Carbon Bazaar’10 in New Delhi, India witnessed the presence of huge number of big industrialists and various
government firms across the globe. This shows the concern of the world towards carbon credits. A “Zero Carbon Footprint”
initiative carried out successfully at our college has been included in the paper. It includes the calculations of emissions by
the raw materials used in the manufacture of the paper we use, computer we work on, the packaging of our groceries or the
disposables such as cups, cartons and plastic bags from its production till its disposal, be it in their manufacturing process
which consumes fossil fuel generated electricity or the transportation process which causes more emissions by way of vehicle
exhaust. An equivalent number of plants were planted in the university premises which amounted to the net carbon emitted
during the entire event. Some of the registered projects in India, included in this paper, show the initiation of our nation
towards carbon credits. The emergence of a global carbon credit economy is likely to precede a global regulatory system
governing climate change and will doubtlessly help to stimulate the emergence of such a global system.
Keywords: CDM, Kyoto protocol, project based system, carbon credits, carbon bazaar, zero carbon footprints.

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