Working for the Sustainable  Environment

 
     

Environment

Carbon Credit

 

   

 
 

 

Carbon Credit

 

Carbon trading is a market mechanism intended to tackle global warming around the world. It took off as a marketable product after the Kyoto Protocol was signed in 1997. The protocol calls for 39 industrialized countries to reduce their green house gas emissions (GHG) between 2008 and 2012 to levels that are 5.25 lower than those of 1990. Developed countries, even US government is now promoting carbon trading because they are the biggest polluter and can purchase unused tradable permits from other less polluting industrialized countries or earn Certified Emission Reductions (CER) through implementing projects in developing countries under Clean Development Mechanism (CDM). There is limited scope for developing countries in carbon trading options as CDM is the only flexible mechanism that involves developing countries. It allows developed countries to achieve part of their reduction obligations through investment in projects in developing countries that fix or sequester carbon dioxide from the atmosphere. Such projects can earn CER credits which can be counted towards meeting Kyoto Protocol targets of the investing countries.

 

Bangladesh and India are low carbon dioxide emitting countries as evident from the Green House Gas Emission (GHG) by different countries given in Table-12. Forestry is one of the three major sectors in which the GHG can be reduced through CDM mechanism. The United Nations General Assembly has declared 2011 as the International Year of Forests to focus on raising awareness at all levels to strengthen the sustainable management, conservation and sustainable development of all types of forests for the benefit of current and future generations. Jute cultivation could be regarded as aforestation and reforestation. Total area of jute, kenaf and allied fibres cultivation is around 1,312,000 hectare per year. Since one hectare of jute plants consume about 15 tons of CO2 the total amount of CO2 consumed per year is about 20 million tons which is equivalent to 20 million Carbon Credits.

 

Organized jute farming may have the potential to claim Carbon Credits. Possibility may be explored whether a project could be initiated to group the jute farmers together to form a jute growing farm through which it can lay claim to carbon credits after meeting the requirements or it can come to an agreement with industries, power plants of foreign countries that emit GHG beyond permissible limit. If this could be achieved, the farmers as well as the producing countries would be immensely benefited. IJSG is working on the feasibility of such proposition.

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  Greenhouse Gas Emissions by Countries  
     
 

SL

Country

CO2e t/person/year

SL

Country

CO2e t/person/year

1

Argentina

4.12

21

Ireland

10.13

2

Australia

18.75

22

Japan

9.68

3

Bahrain

28.23

23

Korea, Republic

10.09

4

Bangladesh

0.25

24

Kuwait

25.09

5

Belgium

9.97

25

Libya

7.01

6

Brunei Darussalam

14.97

26

Luxembourg

22.35

7

Canada

17.37

27

Netherlands

11.13

8

China

4.57

28

Netherlands Antilles

23.57

9

Cyprus

9.34

29

New Zealand

8.48

10

Czech Republic

11.83

30

Oman

13.79

11

Estonia

13.45

31

Pakistan

0.85

12

Finland

12.19

32

Poland

7.99

13

France

5.81

33

Qatar

58.01

14

Germany

9.71

34

Russian Federation

11.21

15

Gibraltar

16.79

35

Saudi Arabia

14.79

16

Greece

8.74

36

Switzerland

5.62

17

Hungary

5.36

37

Trinidad And Tobago

21.85

18

Iceland

7.53

38

United Arab Emirates

29.91

19

India

1.18

39

United Kingdom

8.6

20

Iran

6.56

40

United States

19.1

 
 
   
     
     
     

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