Proceedings of International Forestry and Environment Symposium | VOL. 12
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Emission Trading As Green Solution: Legal Perspective

Publication Date Apr 23, 2012

Abstract

The present study throws light on the usefulness of Emission Trading as Green Solution in present scenario. Emission trading principle initiated from the technocracy movement which proposed Energy Accounting System in 1930s. Now this is recognized as Emission Trading in Kyoto Protocol which came into force on February 16th, 2005. The obligations of signatory countries are: Reduction of emission of Green House Gases (hereinafter GHGs) notified in Annex-I of Kyoto Protocol and engaging in emission trading if the signatory nations maintain or increase the emission of GHGs. Emission trading brings flexibility to this strict obligation. It aims at achieving the mandate of emission limitation for reduction of GHGs in the signatory nations. It is a cap and trade system under Kyoto. ‘Cap’ is the limit (national level commitments) which is set by the government agency on the amount of emission of the notified pollutants. The pollutant emit ters are required to hold equivalent number of credits or allowances representing the right to emit a specific amount, so that the amount of credits should not exceed the cap. Kyoto has classified signatory countries into two categories, firstly, Annex-I countries (developed countries), which accept GHGs reduction obligations and have to submit Greenhouse Gas Inventory (hereinafter GGI) and non-Annex-I countries (developing countries), which have no GHG emis sion reduction obligations and may participate in Clean Development Mechanism (hereinafter CDM). Thus, emission trading is carried out by Anne...

Concepts
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Annex-I Countries
Emission Trading
Green Solution
Commitment Period
Kyoto Protocol Obligations
Clean Development Mechanism
Kyoto Protocol
Technocracy Movement
Amount Of Credits
Signatory Nations

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