Amidst growing concern and
increasing awareness on the need for pollution control, the concept
of carbon credit came into vogue as part of an international agreement,
popularly known as the Kyoto Protocol.
Carbon credits are certificates issued to countries that reduce their
emission of GHG (greenhouse gases) which causes global warming.
It is estimated that 60-70% of GHG emission is through
fuel combustion in industries like cement, steel, textiles and fertilisers.
Some GHG gases like hydro fluorocarbons, methane and nitrous oxide are
released as by-products of certain industrial process, which adversely
affect the ozone layer, leading to global warming.
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