The concept of carbon credit originated from which one of the following?
The concept of carbon credit originated from which one of the following?
(a) Earth Summit, Rio de Janeiro
(b) Kyoto Protocol
(c) Montreal Protocol
(d) G-8 Summit, Heiligendamm
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(b) The Kyoto Protocol invented the concept of carbon emissions trading, whereby carbon credits were a "flexibility mechanism". Under this flexibility mechanism Annex 1 (developed countries) could use the carbon credits to meet their emission reduction commitments.
A 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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